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Growing optimism in manufacturing sector

25 July 2013

There is cause for optimism in the UK's manufacturing sector, according to a new report.

Research by the Confederation of British Industry (CBI) found new orders increased in the last quarter - the first time they have done so in a year. Meanwhile, production continues to show modest growth. 

In light of this, optimism in the industry is up for the second quarter in succession. 

Stephen Gifford, CBI director of economics, commented: "The gentle rise in confidence is being reflected in firms' headcount, which is rising at the fastest rate in a year."

The manufacturers surveyed by the organisation expect orders to continue to grow at a modest pace over the next three months. They forecast new domestic trade to increase at the fastest rate since April 2012.

However, there are still some concerns in the industry, with uncertainty about the global economy leaving many firms worried about their export orders.

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Categories: Commercial, Energy, Manufacturing & Infrastructure

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