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Manufacturing Confidence is up


British manufacturers are growing in confidence despite concerns about the health of the wider economy, a survey shows. Firms expect business to pick up over the next three months as the weak pound and strong export markets bolster demand. The CBI’s monthly industrial trends survey also found that many manufacturers are planning to raise the price of goods leaving their factories.

Sectors that tend to lead demand such as packaging are reporting greater quote activity and marketing spend on promotional gift items is also up.

Analysts said it was a sign of renewed confidence in UK factories, driven by a strong recovery in demand for British-made goods both at home and abroad.

The reluctance to recruit ahead of the public sector review in October is understandable so we don’t expect any impact on unemployment numbers during 2010.

 

Author: Chris Slay

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