The EEF/BDO Manufacturing Outlook report is our quarterly update on trends in UK manufacturing and in the last quarter, we have seen a consistently positive picture all round for the sector.
Britain's manufacturers are enjoying buoyant conditions and in particular due to the export market with sales going from strength to strength.
Tom Lawton, Partner and Head of BDO Manufacturing, comments:
“Despite the economic and political uncertainties, manufacturers’ continue to be a force to be reckoned, delivering a strong performance as well as increasing both investment and employment plans to make the most of the strengthening export opportunities available to them.”
Quarterly Balance Tracker
On every measure response balances are both more positive than those recorded in 2017q2 and better than forecast three months ago.
Source: EEF Manufacturing Outlook Survey
The report confirms a resilient picture for manufacturing activity in the latter part of this year. However, while firms are confident about their own performance, the same cannot be said for their optimism about the outlook for the UK economy. UK confidence indicators have dropped for the second quarter in response to weak consumer spending and political uncertainty.
Download the full Q3 report for more information and analysis of the UK manufacturing trends, including recruitment, investment and 2018 forecast.
If you would like to discuss any of the topics raised in this report, please don't hesitate to contact Tom Lawton or your usual BDO Manufacturing partner.
Image source: Rotor Rows, taken by Andy Newman at National Oilwell Varco in Manchester, runner-up in the Amateur category of the EEF Photography Competition 2016