Great news for UK manufacturing!
Sharpest rise in manufacturing optimism since 1973:
Business optimism among manufacturers saw its sharpest improvement since 1973 on the back of strong growth in orders at home and abroad, according to a CBI survey.
The business organisation’s quarterly Industrial Trends Survey found that in the three months to April 2014, growth in total order books and domestic orders was the fastest since 1995.
Export orders grew strongly, the CBI said, while investment intentions for the year ahead remained particularly robust.
Output growth was solid again for the second consecutive quarter, while numbers employed rose at the strongest rate since October 2011.
Companies were said to be upbeat about the next quarter, with growth expectations for domestic orders and output also the highest since the 1970s.
Katja Hall, CBI chief policy director, said: “Confidence is rapidly rising among British manufacturers, with a real sense of business optimism.
“Our industrial base is seizing a bigger role in the UK’s economic recovery, with output, orders and hiring all on the up.”
“There are still bumps in the road ahead, with only a tepid recovery likely in the eurozone, the pound creeping higher and a rapidly evolving situation in Ukraine.
“However, expectations for growth in the coming three months are positive and manufacturers plan to significantly ramp up investment in the year ahead.”
Yet another reason to get your products produced in the UK!
