The latest quarterly South West Manufacturing Barometer has revealed that the region’s manufacturers continue to record increased turnover levels.
According to the survey, which was commissioned by the Manufacturing Advisory Service in the South West (MAS-SW), 64% of manufacturers reported an increase in sales turnover in the last quarter of 2010, an increase of 11% from the previous quarter, and an 18% rise on Q4 2009.
Orders were also up in the south west, with 54% reporting an increase from October to December, similar to the response in the previous quarter. Overall, 2010 showed an increased level of orders compared with 2009.
However, in Q1 of 2010, 33% of manufacturers in the region expected to increase the number of staff in the coming months, a figure which has slightly reduced since. The recent PMI reported that job growth saw a record high in November, despite the Barometer findings showing that only 26% of manufacturers expected staff growth across that time period – the lowest forecast for staff growth this fiscal year.