Manufacturers defy economic gloom – 70% say even better to come
company news from London Manufacturing Advisory Service
25 April 2008
Figures released today by the Office for National Statistics show that UK factory output has risen at its strongest annual rate in more than a year.
The figures show that manufacturing output rose 0.4%, better than the original 0.1% expectation.
Today’s news confirms the findings of a survey carried out by the Manufacturing Advisory Service (MAS) for London and the South East, which recently showed that more than 70% of the region’s manufacturers feel confident about the future.
Comments Colin Allaway, Principal Specialist at London MAS: “UK manufacturers realise that they cannot compete with low cost regions on low value goods – but where they are winning is through being innovative, driving up quality and by adopting the best available tools and techniques to enhance productivity.
“Despite concerns around a number of issues – including the global credit crunch and rising energy and commodity prices – our survey shows that the manufacturing community remains positive about its future and should be congratulated for such a strong performance at a time of genuine market volatility.”
Where manufacturers continue to express concern is over the issue of future skills shortages - more than 35% of MAS survey respondents believe that the skills gap could have a negative impact on future productivity.
Ends
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NOTE TO EDITORS:
London Manufacturing Advisory Service (MAS)
London Manufacturing Advisory Service (MAS) is supported in the capital by the London Development Agency. It provides straightforward advice and practical support to improve manufacturing competitiveness.
It is delivered by EEF South, the Regional Centre of Manufacturing Excellence and Pera, the innovation network. London MAS aims to help manufacturers operate more effectively, design better products, create high performing individuals, teams and organisations and help manufacturers better promote themselves to new and existing markets.
Manufacturers can reach London MAS Specialists by calling the Hotline on 0845 600 2212, by visiting www.mas-london.com or by emailing info@mas-london.co.uk
