The UK manufacturing sector is bucking the trend of the rest of the economy and showing impressive reliance in the face of adversity, the Confederation of British Industry’s (CBI) latest survey figures have shown.
In its latest quarterly Industrial Trends Survey, 29% of the 398 business owners noted that total orders had increased in the three months up to July, whilst 26% saw a fall. The resulting balance is +3 above the long-run average, as manufacturers remain steadfast in the deepening recession.
Total orders over the next three months were also expected to grow at a similar pace.
Output growth increased in the same period with 29% of manufacturers reporting improving output and 21% saying their output volumes were down. The resulting balance was again above the long-run average and the strongest seen so far in 2012.
The CBI’s head of economic analysis, Anna Leach, indicated that UK manufacturers were proving resilient despite the UK’s biggest export market, Europe, still searching for a resolution to its economic issues.
“Both demand and production grew steadily in the three months to July, and this is expected to continue over the next three months,” she added.
Invoice Finance for Manufacturers
Here at Skipton Business Finance, we acknowledge that manufacturers haven’t had it easy in recent years, as rising costs of energy and materials have really hit profit margins hard.
Coupled with ingrained late payment culture, manufacturers may struggle to keep their cashflow consistent and growth can be hard to achieve.
That’s why we are able to offer specific invoice finance solutions for manufacturers, designed around each and every individual business and its strengths and weaknesses.
Why not check out our solutions for manufacturing page to see just how Skipton Business Finance could tailor the ideal finance solution for your business.