Source:Manufacturing Digital Date:05/06/2007 11:41:04
More UK manufacturing companies are seeing a rise in output and orders than at any time in 11 years, according to the EEF manufacturing group. The balance of firms seeing a rise in orders and output for April, May and June of this year was plus 23 percent, with companies enjoying ‘healthy trading’.The EEF said the balance was at its highest level since 1996.
However, the group warned that the high value of the pound had become a concern for some companies.
It said this was evident by the fact that the balance of export orders for the second quarter of this year had dropped from plus 16 percent to plus 10 percent.
EEF chief economist, Steve Radley said: “Manufacturers are continuing to enjoy healthy trading conditions at home and abroad and this is being translated into better prospects for investment and employment. However, we may be seeing the first impact of the strength of the pound against the dollar and this is affecting expectations for the rest of the year.”
The EEF added that the manufacturing sector should continue expand both this year and in 2008.
June 5 2007