Sunday, September 20, 2020

Output up for Yorkshire & Humber manufacturers

Positive conditions abound for manufacturers across Yorkshire and the Humber, according to the latest survey from EEF and BDO.

The Manufacturing Outlook survey is a barometer of the sector’s peaks and troughs.

For the third quarter, it showed that output across the region is at its highest in almost three years. 39% of companies polled reported an increase in output.

Overall orders have eased since last quarter, but remain strong with export orders up by 29%.

Forecasts predict this to remain stable in the coming months.

Needless to say, this has boosted business confidence for firms across Yorkshire and the Humber.

This is evidenced in the continued demand for skills. Recruitment intentions were up 26% – the highest level for almost three years and the third highest of any UK region.

Moreover, investment intentions have returned to a two year higher at +17%.

“Manufacturers appear to have taken the recent political upheaval in their stride and are taking advantage of growing world markets to make hay while the sun shines,” said Andy Tuscher, Region Director for EEF in Yorkshire & Humber.

He added: “There is little doubt that Brexit is likely to weigh on sentiment over the next twelve months with uncertainty over the UK’s terms of exit.

“As such, it is vital the Government sends a signal to industry and investors in the UK and overseas that it is doing everything in its power to get growth of the UK economy back on the agenda.”

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