UK manufacturers report increase in activity? Make UK and BDO report
Manufacturing firms in the UK have seen an increase in activity in the third quarter of the year, with signs that pent-up investment demand has been released, according to a report.
Make UK and BDO on Monday said its research found companies are looking to recruit more workers although the sector has 46,000 vacancies to fill, which is costing an estimated £4 billion in lost output every year.
According to the survey of almost 300 companies, export growth in particular is leading to greater demand.
Despite more positive news, the survey also shows almost three-quarters of companies expect further increases in costs in the forthcoming Budget.
Stephen Phipson, chief executive of Make UK, said: ‘After a period of considerable uncertainty in global markets, these figures are an encouraging sign that manufacturers’ confidence is improving and, more importantly, being translated into growth and investment.’
By Alan Jones, PA Industrial Correspondent
Press Association: Finance
source: PA
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