The EEF (Engineering Employer’s Federation) recently held their quarterly Manufacturing Briefing to present their latest UK Manufacturing Report, prepared in conjunction with business advisers, BDO.
The briefing was delivered by EEF Region Director Phil Brownsord, and attended by MAS (Manufacturing Advisory Service) who had also recently conducted their quarterly Barometer.
Sue Roberts of Dymond Engineering attended the briefing in Exeter to hear the latest results and intentions of manufacturers and engineering companies across the UK.
The key findings showed the manufacturing sector continues to pick up from the sharp fall at the end of 2012, and expectations are this will continue in quarter 4, though output is still 9% below where it was at the peak before the recession.
The findings also showed a reduction in the gap between the different manufacturing sectors, with most sectors reporting some growth, including metal products. Encouraging for Dymond was the pickup in construction which is a sector we supply with sub-contract sheet metal work.
One of the most interesting findings concerned ‘reshoring’ or ‘onshoring’, which is the reverse of offshoring. MAS focused on this in their latest Barometer and found that 15% of respondents are bringing production back to the UK, against 4% who are moving it offshore. These are still small numbers but indications are it will increase. The main reasons given for reshoring are cost, quality and leadtimes, which are all strengths of Dymond Engineering and Metal Products Ltd, here in Barnstaple.
Sources: EEF Manufacturing Outlook December 2013-12-05 and MAS National Barometer.