Skip to main content

Annual Business Survey, revised results for 2016

This structural survey from the Office for National Statistics (ONS) gives an overview of the industrial structure of the UK economy at a detailed industry level.  It major problem is the time taken to produce the data, with 2017 figures not due for release until November.

However, the mid-year release sees a revision for 2016 from which we can draw some conclusions.  We will focus on what we have defined as “Advanced Engineering”;  this is defined as SIC chapters 25 to 30 and 33 and covers Metal Products, Electronics, Electrical Engineering, Machinery, Automotive, Other Transport Equipment and Repair & Maintenance of these industries.

Total turnover of these industries increased by +5.7% in 2016, but with total purchases of goods, materials and services up by +7.7%, gross value added by the sector only grew by +1.4%.  However, this was still faster than the increase of +0.7% in average employment which reached 1.13 million people - this is its highest level since 2009.  Total net capital expenditure was unchanged compared to the 2015 level.

You can download the ONS Statistical Bulletin from their web-site at www.ons.gov.uk or request it from MTA;  we also have an analysis of the key industries which is available to members - please contact Geoff Noon if you would like these tables.