The outlook is bright for UK manufacturers, according to new research.
The annual Works Management Manufacturing Outlook survey, released by Works Management magazine in association with law firm Nabarro and Lloyds Bank, reveals that 85% of respondents have an optimistic or very optimistic view of the business outlook for 2014, with 84% confident of a sustained economic recovery and 82% expecting continued revenue growth over the next 12 months. This comes on the back of a better year for the manufacturing sector in 2013 with 76% reporting an increase in their order books.
When asked what was driving their optimistic outlook, respondents comprised of senior managers and decision makers in the manufacturing sector had differing views. Over 50% put their positive mood down to domestic order growth, while opportunities generated by export order growth from the EU (35%) and BRICS (28%) economies were also cited.
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Source: The Business Desk