Manufacturing rises to the growing demand
A GROWING number of manufacturers in the East 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 BDO LLP.
The second quarter EEF/BDO Manufacturing Outlook report showed that the broad-based recovery, which began at the end of 2009, has gathered pace. East regional output and orders balances hit their highest levels since the survey began in 1995.
About six in every 10 manufacturers saw a rise in both output volume and total new orders. Employment is also returning to growth, albeit more slowly.
“Across the region, 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,” said Keith Hamilton, head of external affairs for EEF in the east of England. “This improvement is starting to translate into an improving employment trend, although companies remain cautious about the economy and this appears to be inhibiting investment plans.
“They will now be looking to the forthcoming budget to ensure tax and spending plans do not threaten to derail this optimistic picture.”