Manufacturers expect increased production and hiring to come

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.


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