Posted On: 31st May 2012
Growth forecasts and encouraging reports of increased sales and new jobs was the message from the Manufacturing Advisory Service National Barometer. Despite economical doom and gloom caused by further misery for UK construction and retail, manufacturers reported turnover rise in the last six months, with 73% expecting further growth between now and the end of the year.
The quarterly survey also revealed that 46% of companies are planning to take on staff in the coming year with another 44% expecting employee numbers to remain the same, as the level of new business enquiries holds strong despite difficult economic conditions.
Made in the Midlands Commercial Director Charles Addison commented;
“The positive news coming from the MAS barometer is certainly congruent with our findings from how manufacturers in the Midlands are performing within our manufacturing collective. Record sales, job creation and increased exports seem to be indicating that the sector is very much healthy and indeed is one of the few positive areas of the economy currently.”
Simon Griffiths, MAS Area Director for the North and West said “This is the clearest indication yet that our manufacturers are enjoying increases in sales and, reassuringly, they expect this trend to continue.
“Investment by the major Original Equipment Manufacturers and interest from overseas companies to source from England has helped facilitate demand.”
He continued: “The Barometer includes the views of manufacturers from all sectors and, against the backdrop of improvements in turnover, is showing a renewed commitment to create new jobs.
“It will be interesting to see if employers can find the skilled staff they require to fill the positions, bringing into focus the need for companies to create and support Apprenticeships so we can start to fill the talent pipeline again.”