Manufacturers ‘still performing strongly’
PETERBOROUGH manufacturers are continuing to perform strongly, almost without exception. That’s the view of Mark Smith, manufacturing specialist, corporate banking, at Barclays, Peterborough following the latest PMI manufacturing figures.
Of the local scene, he said: “Whilst trade has its challenges, there is definitely a positivity in the sector, and we are seeing some very good order books for the months ahead which, in turn, gives clients confidence to invest and explore new markets.
“We are also seeing this benefit passed on to wholesalers in the supply chains selling into the manufacturing client base due to the growth, which clearly helps the region.”
Of the national picture, he said: “Although the UK manufacturing sector growth has softened, there is still strength in the sector, despite last week’s news of a return to recession.
“It seems that the contraction in economic growth has not had a lasting impact on manufacturers’ confidence, with signs of optimism across the industry and various subsectors performing well.”