Tue, 2 Jun 2009
While the recession has had a negative
impact on demand, manufacturers have been determined to perform well,
it has been claimed.
Following the publication of new figures from the Confederation of British Industry (CBI) which suggest that manufacturers may believe the worst of the recession may be coming to an end, one expert believes that these businesses have been impressive in their efforts to make performance gains.
Adam Buckley, head of contracts and programmes at the Manufacturing Institute, said that manufacturing businesses are taking a number of steps to ensure performance levels remain high.
Nonetheless, many sectors in the industry are continuing to suffer, he said, adding that while some areas have continued to experience growth, there are certain areas that continue to suffer greatly, such as those supporting construction or automotive industries.
"Manufacturing businesses have shown impressive form in their determination and inspiration in re-engineering performance during periods of recession and most importantly becoming stronger for it," said Mr Buckley.
He added that the CBI survey gave cause for cautious optimism, but there is still scant evidence that the sector is fully in the clear yet.
The CBI's monthly industrial trends survey for May showed that businesses operating in this sector believe the pace of decline will slow during the next quarter.
Confidence levels are now at a similar level to where they were in September 2008.
Other figures, published by the Office for National Statistics, indicate that the country's trade deficit on goods during March is estimated to stand at £6.6 billion, down £0.2 billion on the level in February. The deficit with EU countries during the month was £3.3 billion, up by £0.2 billion from the previous month.
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