New statistics from the Manufacturing Technologies Association (MTA) show that confidence in the sector, the key suppliers of tools and equipment to engineering-based manufacturing, is at a two-year high. The level of confidence about the future is at the highest since mid-2011 and a large majority of companies are predicting improvements in their businesses over the next twelve months.
Graham Dewhurst, the MTA Director General, comments: "It is good news that confidence is up and that our members are looking forward to the future. It is reassuring to see the indicators continue to point in the right direction – it is also reassuring to see that growth is on a sustainable pattern not a rollercoaster.
"2013 has been a strong year for the industry with order and sales at good levels throughout. What is also good news is that we can now see a clear trend in employment with companies' workforces growing at an annualised six per cent.
"If the Manufacturing Technologies Sector is doing well then it means that UK manufacturing is investing in its future. But we need to be sure that continues into the medium- and long-term. The UK is a great place to manufacture, but it could be better still. We now have a competitive tax regime in place for R&D but Government needs to capitalise on that by making the other side of the investment coin – plant and equipment - globally competitive too. That can be done through bringing Capital Allowances up to international 'best in class' standards."
Follow the link to find out more about the MTA.