Growth in North East manufacturing is continuing into the second half of the year, a quarterly survey has claimed.
The latest quarterly Manufacturing Outlook survey by EEF, the manufacturers’ organisation, and accountancy and business advisory firm, BDO LLP, reveals the region’s manufacturers’ strength and performance is growing as 2014 progresses.
Output and orders were amongst the strongest of any UK region, up 31% and 25% respectively, while job prospects in the region for skilled employees continue to surge by 27%.
Looking ahead, 31% expect to increase output and 31% anticipate a boost in orders. And, despite easing slightly, companies are still expecting to recruit, with a balance of 18% of manufacturers looking to take on staff.
However, exports remain an area of caution, where the escalating political risks around the world in the last few months, the flagging Eurozone and the appreciation of sterling is weighing down on demand.
Andy Tuscher, North East region director at EEF, said: “North East manufacturers are still on course for a strong year, but our survey points to a moderation in the pace of expansion from the take-off in activity over the past year.
“However, manufacturers continue to recruit for skilled jobs, which is great news for local people, and increase their plans to invest in the coming year, which is exactly what the region’s economy needs for balanced growth.”