Cambridgeshire commercial builders CD Hood Ltd are delighted to see that some believe Cambridge and the East of England manufacturing businesses are set to lead a major UK growth spurt. The latest from the Manufacturing Advisory Service (MAS) shows a u-turn in sentiment with the majority of manufacturing SMEs in the region predicting an increase in sales over the next six months. They also reveal that 90 per cent of East of England companies plan to maintain or increase their workforce, 56 per cent of companies expect to grow between now and March 2013, with 39 per cent set to boost investment in plant and machinery.
Area director for MAS, Martin Coats said: “It’s reassuring to see more of our SMEs are expecting to increase their sales going forward and this despite a slight fall over the last six months.
“Manufacturers have been reporting fluctuating demand and softening in certain sectors so to see the renewed optimism suggests many believe these markets are coming back on stream.
“90% of East of England companies told us that they intend to maintain or increase their workforce, which shows a general stability in these figures.”
Business Minister Michael Fallon said: “It's encouraging to hear of the optimism amongst manufacturing SMEs in this barometer. These are still challenging times but the recent GDP output is the latest sign yet that the wider economy is starting to recover. We will continue to support manufacturers through MAS to ensure they are best placed to take advantage of opportunities to grow.”