A survey carried out by Zurich found that, while some organisations are still encountering a lack of finance, the vast majority of companies expect conditions to increase in the second half of 2011 and turnover to follow suit.
Steve Green, European middle market network leader at Zurich, said the manufacturing sector has always been a "key indicator "of how well the economy is faring, with the survey showing that manufacturers are unfazed by any minor issues affecting them.
"The findings show that manufacturers have a cautious optimism about the year ahead, that they are excited to break into new markets but perhaps require the necessary insight and expertise in order to achieve this goal," he added.
His comments follow the publication of a report by the Office for National Statistics, which showed that manufacturing output in April was up 1.3 per cent compared with last year's figure, suggesting a continuing return to economic growth.
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Posted by Nikki Barrister
Source: The Sales Engineer News