Manufacturers from the West Midlands region are doing well in terms of output and order numbers, reports the Business Desk, according to the recently published quarterly Manufacturing Outlook survey.
The data contained in the report was compiled by manufacturers’ organisation EEF together with accountancy and business advisory firm BDO. It shows that the positive results manufacturers from the region displayed at the beginning of the year were also present in its second quarter, with balances of +39% for manufacturing output and +14% for orders.
Although the results did not directly translate into staff hiring, manufacturers are hopeful for the future, with 23% of manufacturers in the West Midlands making plans to increase recruitment. Also, again a balance of 23% intend to revive investment plans during the second half of the year.
When it comes to export, however, few West Midlands manufacturers expressed confidence in their ability to achieve export growth in the year’s third quarter. Feeble demand in key markets coupled with the appreciation of sterling makes exports an area manufacturers are cautious to tread on.
The EEF is currently anticipating manufacturing growth of 3.6% across the UK – a significant rise from the 2.7% forecast at the beginning of the year. The Business Desk quoted EEF’s Midlands region director Richard Halstead, who said confidence among manufacturers is growing. According to him, West Midlands manufacturers have a vital role to play in helping to sustain the UK’s economic growth.
The article also features comments from Tom Lawton, head of manufacturing at BDO, who said government manufacturing policy is successful at creating an environment comfortable enough for West Midlands manufacturers to undertake future investments.
Lawton calls on the government to introduce more supportive measures for exports to further encourage manufacturers.
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