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Manufacturers defy economic gloom
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10/04/2008
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Figures released by the Office for National Statistics reveal that manufacturing output rose 0.4% - better than the original 0.1% expectation, and its strongest annual rate in more than a year.
The news confirms the findings of Manufacturing Advisory Service (MAS) South East’s survey, which recently showed that more than 70% of the region’s manufacturers feel confident about the future despite concerns around a number of issues – including the global credit crunch and rising energy and commodity prices.
“UK manufacturers realise that they cannot compete with low cost regions on low value goods,” commented David Caddle, principal specialist at MAS South East, “but where they are winning is through being innovative, driving up quality and by adopting the best available tools and techniques to enhance productivity.”
However, manufacturers expressed concern over future skills shortages - more than 35% of MAS survey respondents believe the skills gap could have a negative impact on future productivity.
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Author
Mike Richardson
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