Manufacturers enhancing productivity in the South West

Posted on 28 Nov 2014 by The Manufacturer

The latest Manufacturing Advisory Service (MAS) barometer said they had increased their productivity in the past six months as manufacturing companies in the region continue to adapt to a relaxing marketplace, say more than half (52%) of respondents.

Almost three-quarters (74%) of manufacturers felt that further efficiency gains were needed to remain competitive. More than 60% of companies expect to increase investment in new technology, machinery or premises by Spring 2015.

Simon Howes, MAS area director for the South West, said: “Our barometer shows that South West manufacturers are already raising productivity, which is good for the region and country as a whole. It should also please the Bank of England, who recently called for the UK to improve its performance in this area.”

Business minister Matthew Hancock continued: “Britain’s small manufacturers are driving our economic recovery, boosting our national productivity and helping create a record number of jobs.”

More than half (51%) of manufacturers recorded an increase in sales, with 56% expecting to increase their turnover between now and the end of March 2015.

Additionally, 94% of companies questioned planned to either maintain or increase their workforce over the six months.