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Industry News
Manufacturers NewsManufacturers report buoyant trading as demand risesA growing number of Britain’s manufacturers reported buoyant trading conditions over the past three months on the back of rising demand in overseas and UK markets, according to a major survey published by EEF, the manufacturers’ organisation, and advisers BDO.The second-quarter EEF/BDO Manufacturing Outlook report reveals that the broad-based recovery which began at the end of 2009 has gathered pace. Output and orders balances hit their highest levels since the survey began in 1995, indicating that manufacturing’s contribution to the recovery looks set to continue over the coming months. Greater confidence across the sector is starting to translate into recruitment. However, investment balances continue to lag as uncertainty about the strength of future demand, availability of internal finance and concerns around business taxes combine to keep plans on hold. A package of tax reforms in the forthcoming emergency Budget would help alleviate concerns.Lee Hopely, chief economist at EEF, said: “We are now seeing a broad-based strong recovery which has to be good news for hopes of an export-led rebalancing of the economy.
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