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Office of National Statistics releases Annual Business Survey results for 2017

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The Office of National Statistics has released the provisional 2017 results of the Annual Business Survey.

The Survey provides the best picture for how the British rubber and manufacturing sector is faring.

The results showed that the value of gross production was down sharply year-on-year, from £2.3 billion to £1.95 billion.

On the other hand, gross value added rose and employment costs fell sharply, reflecting a welcome rise in productivity.

Capital expenditure also rose from £52 million to £66 million, and the number of firms remained broadly the same at 15,000.

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