The Manufacturing Advisory Service has issued an preview of the results of its latest manufacturing barometer ahead of publishing the full details over the next few weeks.
The barometer forms a very significant report which is used by the Government to decide and plan future support and funding for SME (small to medium sized) manufacturers in the UK.
170 SME manufacturers across the South West took part in the Quarter 3 barometer, including Dymond Engineering & Metal Products, and we are pleased to be able to share some of the most positive findings in a number of years.
The following is an extract from the early overview of the findings from the respondents:
- 64 per cent report increases in sales over the past six months
- 78 per cent forecast an increase in sales over the next six months
- Six in ten report increased enquiry levels, a significant rise of 18 per cent from the same quarter last year
- 57 per cent indicated that they plan to recruit more staff
- 28 per cent plan to invest to create new capability for new products and / or processes
These are very encouraging findings and reflect the position here at Dymond Engineering as demand for UK metalwork engineering and fabrication is picking up. Indeed we are seeing new opportunities opening up within the nuclear and aerospace sectors, especially here in the South West with the Hinkley C development and the government’s aspiration for local companies to be included in the supply chain.