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EEF Manufacturing Outlook, March 2014

27 Mar 2014

Excerpts from the Foreword:

 

“Sentiment and activity across the economy have rebounded unexpectedly strongly over the past year and our survey shows UK manufacturers feeling increasingly optimistic about their prospects for 2014.

 

Households have played a leading role, releasing pent-up demand on the back of a robust labour market, improving credit availability and a rise in housing market activity. Alongside a modest recovery in the Eurozone, this has helped to support a broad-based pick-up in GDP, with manufacturing, construction and services all contributing positively to growth in the second half of 2013.

 

Our latest survey results show strengthening balances on almost all indicators over the past three months, with headline measures of output and new orders remaining in positive double-digit territory for a third consecutive quarter. An encouraging development is that this improving trend is more evenly spread across individual manufacturing sub-sectors, in contrast to the more mixed picture of the past couple of years. Responses to the forward-looking questions in our survey were particularly buoyant this quarter, with expectations balances on new orders and employment intentions at or close to historic highs.”


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