The latest South West Barometer, conducted quarterly by the Manufacturing Advisory Service (MAS), has revealed that manufacturers in the region are closely mirroring the national manufacturing outlook.
Over half of respondents (51%) reported an increase in turnover in the last six months, with 58% expecting further growth over the next six months. In comparison, results from the first national barometer from MAS revealed 54% reporting a rise in turnover and 60% anticipating additional growth during the same time frames.
Despite the Office for National Statistics’ recent announcement that the UK has slipped back into recession, results from barometer suggest the outlook for the months ahead is positive.
In the south west, 42% of respondents expect to increase staff numbers over the next six months and nearly half (49%) expect employee numbers to remain in the same. National results echoed these, with 41% of companies planning to take on staff and exactly half expecting numbers to remain the same.
Commenting on the findings, Simon Howes, MAS Area Director for South England, said: “It is encouraging to see that the majority of south west manufacturers are enjoying increases in sales, and that reassuringly, they expect this trend to continue.”