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Confidence grows among UK manufacturing firms

23 June 2011
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Confidence grows among UK manufacturing firmsOptimism about the future of UK industry has increased among manufacturing companies.

Operations management professionals may be particularly interested in The Hazard Warning Report for the sector, showing 78 per cent of such businesses are more confident about prospects for the industry.

According to the study by Zurich Insurance, optimism has risen in the past 12 months, with emerging economies such as China and India helping to drive forward growth as domestic demand remains sluggish.

In addition, the report noted access to credit is not constraining firms as much has been reported and mid-market manufacturers are performing strongly.

Economic uncertainty continues to pose a problem for those in manufacturing management, in addition to the need to enter emerging regions, supply chain issues and problems attracting skilled workers.

"The findings show that manufacturers have a cautious optimism about the year ahead, that they are excited to break into new markets," commented Zurich Insurance European middle market network leader Steve Green.

Recent figures from Eurostat revealed there was a 0.2 per cent increase in industrial new orders across the European Union during April 2011 compared with the previous month.ADNFCR-3058-ID-800597376-ADNFCR
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