Wow, it is hard to ignore some of the figures coming out of Lloyds Bank Commercial Banking's Manufacturing Barometer.
I am firmly entrenched within building products and read a lot around negative impacts surrounding manufacturing of late. Rather compellingly, of more than 240 manufacturing firms interviewed for this barometer, some of the key highlights include:
- 52% expect to increase staff numbers this year
- 84% expect to award pay rises
- 47% expect a rise in business activity
- 52% felt more optimistic about the economy (only 19%, in contrast, are pessimistic)
- Anything over 50 within the IHS Markit / CIPS manufacturing PMI is deemed to point towards significant growth. This figure currently stands at 55.1
- Feedback points towards a good number of manufacturers looking to further invest into new markets and exporting activity.
Viva Great British manufacturing!
Most UK manufacturers are set to create jobs in the next year with the industry in more positive mood than any other major sector, and four in ten said Brexit would have a positive impact on their business, according new research.