According to the latest Business Monitor survey from the Engineering and Machinery Alliance, enquiry levels increased in June, and the share of companies reporting improved order levels increased “quite dramatically” from April’s negative numbers and the “stalled returns” in May.

EAMA chairman Martin Walder said: “It’s rare to see a 50% increase in the share of firms reporting increases in UK orders and a 75% rise in exports, as happened in June. While business confidence has taken a knock post-Brexit, as companies decide how they can turn the new situation to their advantage, these numbers also show that there are reasons to be positive about what might be achieved.

“Weaker sterling may well be helping, but there’s more than that in play — for example, there’s also the fact that raw materials in dollars and euros are now that bit more expensive.

However, there’s no gainsaying that we have to make a success of the future and use every opportunity to do so. Some smaller component makers saw an upturn in business — both in the UK and overseas — according to these results.”