British manufacturers experience three-year high in activity
Posted on 01/09/2013 Category: Rubber Industry News
British manufacturers are experiencing their highest levels of activity in three years, according to new figures. Data published jointly by EEF and BDO LLP has indicated that output and new orders are at their highest since 2010. What’s more, investment intentions were found to be at levels unseen since 2007. According to themanufacturer.com, 32 per cent of the manufacturers questioned reported an increase in activity compared to the last quarter. The figures convinced EEF to up its growth forecast for the industry to 2.1 per cent by 2014. That’s fantastic news for all types of businesses in the industry, from plastic and rubber manufacturers to those working in electrical manufacturing. Tom Lawton, who is head of manufacturing at BDO LLP, says that the figures highlight the continued need for government support. Speaking to 4-traders.com, he explained: “The positive change in investment intentions is a powerful and important indicator, and key to the future growth and positioning of the sector in the global market,” “But let’s reiterate, this is not ‘manufacturing sector job done’ for the government. We must use it as a strong foundation for continued efforts to ensure the sector gets the support it needs to act as an engine of change for the U.K. economy.”
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