UK manufacturers report trading boom

According to a new survey carried out by the Engineering Employers' Federation (EEF) and accountants BDO, manufacturers across the country are enjoying a trading boom.

Alongside a healthy trading log and rising levels of new orders, record numbers of companies are also taking on new staff in a bid to cope with the rising workload.

Twenty-three per cent of firms surveyed reported that they had been hiring new employees over the last few months, in stark contrast to the headcount cuts reported in 2009 and during the early part of 2010.

Thirty-two per cent of companies reported that they were expecting increasing new orders and 33 per cent said they were anticipating a higher level of output – marking the highest levels since records began in 1995.

The growth is particularly noteworthy as it has come about despite continuing economic uncertainty, especially across Europe.

EEF chief economist, Lee Hopley, said, "Manufacturers are ending the year on a high and should enter 2011 on a strong footing.

"The survey has shown record responses on output and orders for much of this year… if this continues, we should see exports and investment delivering better balanced growth across the economy," he added.

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