As a UK metal fabrication business we were pleased to see the latest CBI survey reporting a significant rise in UK manufacturing confidence, with 41% of participating UK manufacturers more optimistic and 8% less optimistic than they were three months ago.
This confidence is important as it influences investment plans leading to hopes of recovery beyond the current bubble of consumer spending. This is important news because manufacturing now accounts for 10% of the UK economy so it’s playing a bigger role in the recovery than in the recent past.
The Bank of England anticipates figures will show GDP growth in the 1st quarter of 2014 was more than the 0.7% growth seen in the last quarter of 2013. As this confidence feeds into investment the hope is that this will drive recovery leading to increases in employment and wages, and making consumers better off. There are signs this is already having some impact on retail with news last week of an increase in full-time employment across all retail sectors.
This is encouraging news for Dymond Engineering as we provide a sub-contract bespoke metal fabrication service to other UK manufacturers and contractors, in the South West and across the UK.