Research published by the Confederation of British Industry (CBI) showed that 31 per cent of small manufacturers think output will grow in the coming months, compared to the 12 per cent which expect a fall.
The resultant balance of 19 per cent in favour of production growth is an improvement on the 12 per cent which anticipated production growth three months ago.
In addition, the survey discovered that small manufacturers have increased their headcounts in the last three months, with a positive balance of seven per cent saying they have taken on new workers.
Russel Griggs, chairman of the CBI's small and medium-sized enterprise council, commented: "It is encouraging that firms have increased their headcount this quarter and are now planning to invest in plant and machinery, and innovation."
Last month, manufacturers' organisation EEF published a ten-point plan to help the UK develop a sustainable and balanced economy, which included greater investment in the country's productive capacity.
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Posted by John Oak
Source: The Sales Engineer News