Research suggests UK manufacturers are in demand overseas, despite on-going trade negotiations

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25th January 2018 15:39 - Industrial

Research suggests UK manufacturers are in demand overseas, despite on-going trade negotiations

Research suggests UK manufacturers are in demand overseas, despite on-going trade negotiations: According to the Manufacturing Outlook 2017, overseas sales continue to support manufacturing market, due to an increased demand in exports – particularly from EU markets.

Although manufacturers are less confident about this year’s first quarter, an increase in orders, along with steady output has kept businesses afloat.  

Figures from the report found that the British manufacturing industry compensated for their weak domestic performance, as increased demand overseas restored growth figures.

During last year’s final quarter, outputs remained strong over the previous three months at 34%, with orders between October-December, at their highest rate since August 1998 - a “historic high” in the Manufacturers Outlook.

According to the confederation of British Industry industrial trends survey, out of 371 manufacturers in the UK, 28% of firms reported an “above average” rate of orders, contributing to 17% average growth rate.

In addition, a strong demand in motor vehicles and transport equipment was said to have kept order books at 30 year-high, with 14 out of 17 manufacturing sub sectors reporting an “above normal” growth in orders.  

Despite on-going Brexit trading negotiations, manufacturers remain optimistic as over one quarter (26%) expect to see an increase in manufacturing activity over the next three months, others, however, predict output growth to decrease in this year’s first quarter.

Commenting on the forecast of the industrial markets, head of economic intelligence at CBI, Anna Leach, said: “While the lower level of sterling continues to support exporters, cost pressures remain intense.”

“Businesses will expect to see the Government’s Industrial Strategy make rapid progress next year to support manufacturing and the wider economy in every corner of the UK.”

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