Manufacturers buck the economic trend

Manufacturing SMEs in England are bucking sluggish growth forecasts with reports of increased sales and new jobs, according to the first-ever Manufacturing Advisory Service (MAS) National barometer survey.

A total of 54% of respondents saw their turnover rise in the last six months, with 60% expecting further growth between now and the end of the year. Over 610 businesses (representing more than 26,000 employees) responded to the survey.

It also revealed that 41% of companies are planning to take on more staff in the coming year, with another 50% expecting employee numbers to remain the same, as the level of new business enquiries holds strong despite difficult economic conditions. MAS is funded by the Department for Business.