Menu
25/03/2002
"Encouraging signs" for manufacturing recovery
Manufacturers have received another welcome boost this month with news that a Confederation of British Industry (CBI) survey has revealed that manufacturing output is expected to stabilise in the coming months.
According to the CBI's monthly 'Industrial Trends Survey', manufacturers have indicated for the second consecutive month that not only is confidence in the industry up, but output is set to turnaround and reverse recent downward trends.
The survey of 896 leading manufacturing concerns concludes that expectations for the next four months will be stable, with 26 per cent of manufacturers expecting an increase and 24 per cent expecting a fall. A differential balance of plus two is in marked contrast to recent marks of a differential of minus 15.
However, whilst the survey reveals reasonable confidence in the sector, warning signs still persist in fundamental area of business – the order book.
Fourteen per cent of manufacturers have revealed that total orders were above normal, whilst 46 per cent said they were below. The balance of minus 32 per cent compares with minus 29 in February and minus 31 in January – suggesting that the long-term assessment continues to be perilous.
Export order books also reveal no serious reduction in prospects with a balance differential of minus 39, in comparison to January's figure of minus 42. The three-point improvement in export orders is in line with the modest improvement in the world economy.
Ian McCafferty, CBI Chief Economic Adviser, said: "There is some encouragement in this survey but manufacturers are still finding life difficult. The beginnings of a global turnaround have led to a slight pick up in export orders, a welcome revival after the three-year low reported in November, but this was offset by the slight fall off in domestic orders. Overall, while we are probably now past the worst, the recovery in manufacturing is still likely to be only gradual."
Elsewhere, the Chartered Institute of Purchasing and Supply (CIPS) has also revealed the UK manufacturing sector could be pulling out of recession. The CIPS index of manufacturing output rose to 50.1 in February, up from 46.5 the month before.
The head of the CBI, Digby Jones, re-issued his call for Trade and Industry Secretary Patricia Hewitt to create the right environment for manufacturing to stage a recovery.
The CBI says that government should reduce red tape regulations that apply to manufacturers, and should develop a tax framework which promotes investment in research and development.
(GMcG)
According to the CBI's monthly 'Industrial Trends Survey', manufacturers have indicated for the second consecutive month that not only is confidence in the industry up, but output is set to turnaround and reverse recent downward trends.
The survey of 896 leading manufacturing concerns concludes that expectations for the next four months will be stable, with 26 per cent of manufacturers expecting an increase and 24 per cent expecting a fall. A differential balance of plus two is in marked contrast to recent marks of a differential of minus 15.
However, whilst the survey reveals reasonable confidence in the sector, warning signs still persist in fundamental area of business – the order book.
Fourteen per cent of manufacturers have revealed that total orders were above normal, whilst 46 per cent said they were below. The balance of minus 32 per cent compares with minus 29 in February and minus 31 in January – suggesting that the long-term assessment continues to be perilous.
Export order books also reveal no serious reduction in prospects with a balance differential of minus 39, in comparison to January's figure of minus 42. The three-point improvement in export orders is in line with the modest improvement in the world economy.
Ian McCafferty, CBI Chief Economic Adviser, said: "There is some encouragement in this survey but manufacturers are still finding life difficult. The beginnings of a global turnaround have led to a slight pick up in export orders, a welcome revival after the three-year low reported in November, but this was offset by the slight fall off in domestic orders. Overall, while we are probably now past the worst, the recovery in manufacturing is still likely to be only gradual."
Elsewhere, the Chartered Institute of Purchasing and Supply (CIPS) has also revealed the UK manufacturing sector could be pulling out of recession. The CIPS index of manufacturing output rose to 50.1 in February, up from 46.5 the month before.
The head of the CBI, Digby Jones, re-issued his call for Trade and Industry Secretary Patricia Hewitt to create the right environment for manufacturing to stage a recovery.
The CBI says that government should reduce red tape regulations that apply to manufacturers, and should develop a tax framework which promotes investment in research and development.
(GMcG)
Related Northern Ireland Business News Stories
Click here for the latest headlines.
12 November 2010
Irish Manufacturing Up 12% Since 2009
Output from Ireland's manufacturing industry has increased by 12% since last year, according to the latest statistics from the Government. The Central Statistics Office (CSO) has reported that "significant" changes have occurred in a number of manufacturing sectors, with an average increase of 12.1% since September 2009.
Irish Manufacturing Up 12% Since 2009
Output from Ireland's manufacturing industry has increased by 12% since last year, according to the latest statistics from the Government. The Central Statistics Office (CSO) has reported that "significant" changes have occurred in a number of manufacturing sectors, with an average increase of 12.1% since September 2009.
12 June 2009
Ireland's Manufacturing Up Despite Recession
The manufacturing sector has seen an increase in production despite the continuing economic woes. According to statistics released by the Central Statistics Office on Friday, production for manufacturing industries for April 2009 was 3.8% higher than in April 2008.
Ireland's Manufacturing Up Despite Recession
The manufacturing sector has seen an increase in production despite the continuing economic woes. According to statistics released by the Central Statistics Office on Friday, production for manufacturing industries for April 2009 was 3.8% higher than in April 2008.
12 March 2002
UK manufacturing output continues to slide
The latest government figures have shown UK manufacturing output was down 0.4 per cent on December's figure, 6.1 per cent lower compared with January 2001. The Office for National Statistics (ONS) revealed that the UK's industrial output continued to fall in January, down 0.
UK manufacturing output continues to slide
The latest government figures have shown UK manufacturing output was down 0.4 per cent on December's figure, 6.1 per cent lower compared with January 2001. The Office for National Statistics (ONS) revealed that the UK's industrial output continued to fall in January, down 0.
22 February 2002
CBI pressures government over plight of UK manufacturers
The Confederation of British Industry (CBI) have published a strategy document to put pressure on Trade Minister Patricia Hewitt to help the beleaguered manufacturing industry.
CBI pressures government over plight of UK manufacturers
The Confederation of British Industry (CBI) have published a strategy document to put pressure on Trade Minister Patricia Hewitt to help the beleaguered manufacturing industry.
23 August 2018
Cushendall Firm Ships First Container To Singapore
Glens of Antrim Crisps (GOA) based in Cushendall has shipped its first container of crisps to a supermarket chain in Singapore. The deal with Cold Storage was secured at Food Hotel Asia in April and the retailer has since confirmed three additional orders.
Cushendall Firm Ships First Container To Singapore
Glens of Antrim Crisps (GOA) based in Cushendall has shipped its first container of crisps to a supermarket chain in Singapore. The deal with Cold Storage was secured at Food Hotel Asia in April and the retailer has since confirmed three additional orders.
-
Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
