Manufacturers expect increased production and hiring to come
2 September 2013
Britain’s manufacturers are experiencing a three-year peak in activity as the recovery takes hold, and are due to increase hiring levels, according to a survey from manufacturers trade body EEF, and accountancy and business advisory firm BDO.
Mon, 2 Sep 2013Britain’s manufacturers are experiencing a three-year peak in activity as the recovery takes hold, and are due to increase hiring levels, according to a survey from manufacturers trade body EEF, and accountancy and business advisory firm BDO.
The rebound to output and orders levels last seen in 2010 is being led by a stronger domestic market, which has often lagged behind exports.
A balance of +32% of firms report increased output – a figure obtained by subtracting the proportion of firms seeing decreases in production from those seeing rises.
Recruitment has thus far held steady, with a balance of +12% of firms increasing employment in the past three months, but this is to jump to 16% in the coming quarter.
Separately, the Markit Purchasing Managers’ Index (PMI) for UK manufacturing shows activity in the sector at a two-and-a-half year high, demonstrating significant growth, while the Eurozone equivalent shows more marginal growth, but is still at its highest level in two years and two months.
The rebound to output and orders levels last seen in 2010 is being led by a stronger domestic market, which has often lagged behind exports.
A balance of +32% of firms report increased output – a figure obtained by subtracting the proportion of firms seeing decreases in production from those seeing rises.
Recruitment has thus far held steady, with a balance of +12% of firms increasing employment in the past three months, but this is to jump to 16% in the coming quarter.
Separately, the Markit Purchasing Managers’ Index (PMI) for UK manufacturing shows activity in the sector at a two-and-a-half year high, demonstrating significant growth, while the Eurozone equivalent shows more marginal growth, but is still at its highest level in two years and two months.
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