The UK’s advanced manufacturers have seen their borrowing jump more than 10% to £65.1bn in the past year, according to research by the Asset Based Finance Association (ABFA).
The growth is more than twice the rate of more conventional manufacturers, which have seen their outstanding borrowings grow by 4.9% to £527.6m over the past 12 months.
Sectors that have seen the rise in borrowing grow quickest include pharmaceuticals (21% growth) and manufacturing controls (123% growth). So-called ‘left-behind’ sectors reportedly include more traditional industries, such as agricultural machinery (down 25%), paper (down 18%) and steel casting (also down 18%) – all of which saw their borrowing fall significantly last year.
Read the full article via The Manufacturer - https://www.themanufacturer.com/articles/advanced-manufacturers-eager-grow/