This poster produced by the British Government in 1939 aimed to raise morale in the event of an invasion. The funny thing is, it seems to me that is exactly what Manufacturers are doing …Keeping Calm and Carrying On…as we continue along the bumpy road of economic recovery.
The latest snapshot survey of business conditions in engineering and manufacturing companies is now available (Published by EEF and BDO) download full report.
- Output and orders fall short of last quarter’s expectations
- Export balances soften in the past three months
- Sector divergence continued in Q4
- Signs that investment and recruitment is being postponed or scaled back
- Further easing of price rises
- Expectations for flat output and falling orders in Q1 2012
The latest Manufacturing survey publish by EEF and BDO shows that exports have been the main driver of growth over the last quarter. There is however some uncertainty looking ahead with signs that some sectors such as metals and electronics are experiencing weaker order intake levels.
Whilst current figures are strong, there are still fears that UK PLC is becoming a less favourbale location for future investments.
Summary of key findings within this survey are:
- 2011 Q1 brings another better than expected quarter of activity.
UK Manufacturing sector poised to fill growth gap – EEF Report
British manufacturing is poised to fill the growth gap as the public sector plays a smaller role in the economy. It is well placed to respond to the Prime Minister's call to 'create and innovate; invest and grow' according to a major report and survey of 300 companies published today.
However, the sector would benefit from a government strategy which helps to overcome the growth barriers that companies face and to grow the next generation of large global players. The report contains new analysis by EEF of the disparity in numbers of larger UK companies compared to those in Germany and the US.
Economic Prospects 2010
The latest official statistics just released for the first 6 months of 2010 show very strong growth – the best since 1994 in fact. Growth of 1.4% in Q1 and 1.6% in Q2 suggests that the recovery in UK manufacturing is now well underway.
The British Chamber of Commerce (BCC) said engineering plants in the West Midlands were humming again, supplying the German car industry and export machine with specialist parts.
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