Survey finds manufacturers’ optimism is quickly rising

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28th February 2017 17:13 - Industrial

Survey finds manufacturers’ optimism is quickly rising: According to the findings of the latest quarterly CBI Industrial Trends Survey, manufacturers in the United Kingdom are more confident about their business situation and exporting potential. The respondents also said that there has been a noticeable increase in domestic orders in the previous quarter.Survey finds manufacturers’ optimism is quickly rising

The survey questioned 461 manufacturers to reach its findings and reveal that the volume of domestic orders increased at the quickest pace since July 2014 in the three months to January 2017. Despite the fast increase, the growth was still below expectations. The figures also revealed that headcount grew in the last quarter, after falling slightly for the first time in over six years.

In the next three months, the researchers anticipate that demand will slowly increase as a result of export and domestic orders. As well as this, production is forecasted to grow sharply, with the expectations for output growth being the highest they have been since July 2014.

However, some respondents have still reported that they are concerned about the lack of access to skilled labour, with almost 25 per cent saying that a lack of skilled workers could limit manufacturing output over the next few months.

The falling value of the pound has continued to affect prices, as unit costs rocked in the last quarter at the highest rate in more than five years. As well as this, unit costs have been forecasted to increase in the next quarter also. However, the manufacturers in the survey are able to see the positives of the weakening sterling, after reporting another strong increase in competitiveness within the European Union.

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