Manufacturers' organisation EEF has estimated that the UK's manufacturing sector is expected to record a strong growth of 2.7 per cent this year, which is the fastest in the region. EEF, along with the thinktank Oxford Economics expect the manufacturing sector of the country to grow at 2.7 per cent this year.

The estimates showed that UK's manufacturing sector will increase its growth to 2.7 per cent this year compared to 1.6 per cent in Germany and 0.7 per cent in France, the other leading economies in the region. Austria and Belgium are expected to increase growth of 2.4 per cent, Spain at 0.7 per cent and Greece at just 0.4 per cent. The EEF said in its report that the British manufacturing sector will grow faster than other western European economies due to strong domestic demand as well as orders from abroad.

EEF found in its annual survey that 70 per cent of firms forecast an improvement in the economy in 2014 while just 5 per cent expect the conditions to become worse. The balance of 65 per cent is a strong indication that the economy is recovering as the same reading was at just 5 per cent at the same time in the previous year.

EEF's chief executive Terry Scuoler said, "Manufacturers are telling us they expect to make a greater contribution to growth, investment and jobs this year."