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UK manufacturing faces a "cost crisis," predicting contraction this year and slow growth in 2025.
UK manufacturers are experiencing a "cost crisis" with confidence levels hitting their lowest since the start of the pandemic, according to industry body Make UK.
The recent Budget, which increased National Insurance contributions and the minimum wage, has exacerbated the situation.
Make UK now predicts a 0.2% contraction in the manufacturing sector this year and expects only a 0.7% growth in 2025.
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La industria manufacturera del Reino Unido se enfrenta a una "crisis de costos", prediciendo la contracción este año y un crecimiento lento en 2025.