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Manufacturing output grows sharply

By admin
Created 07/06/2010 - 09:44
British manufacturing output and orders grew at their fastest pace in 15 years in the second quarter of the year, according to data released by the Engineering Employers Federation (EEF).

The EEF said a balance of 30% of firms reported a rise in output in the last three months, up from 8% in the first quarter and the highest since the survey began in 1995.

The domestic new orders balance rebounded to 24% from -4% and the export orders balance rose to 23% from 3%.

"Manufacturers are pulling in more export orders on the back of a recovering world economy and a better outlook for the domestic market is giving companies some confidence to recruit again," said EEF chief economist Lee Hopley.

"But manufacturers are very aware that economic headwinds could still pick up again as there are still risks to a sustained recovery."


Source URL:
https://www.newbusiness.co.uk/news/manufacturing-output-grows-sharply