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UK manufacturing 'boosted by overseas demand' | UK manufacturing 'boosted by overseas demand' |
(about 1 hour later) | |
Rising overseas demand has created buoyant conditions for manufacturers in the UK, a report suggests. | Rising overseas demand has created buoyant conditions for manufacturers in the UK, a report suggests. |
The Engineering Employers Federation (EEF) predicted manufacturing output would increase by 3.7% this year and by 3.2% in 2011. | The Engineering Employers Federation (EEF) predicted manufacturing output would increase by 3.7% this year and by 3.2% in 2011. |
It added firms were creating jobs - though these were mainly going to temporary or agency staff. | It added firms were creating jobs - though these were mainly going to temporary or agency staff. |
The EEF also warned that cutbacks in government spending and the uncertain outlook for the US could affect growth. | |
"Manufacturers have continued to reap the rewards of growth in overseas markets with the upswing being felt across all sectors and regions," said EEF chief economist, Lee Hopley. | "Manufacturers have continued to reap the rewards of growth in overseas markets with the upswing being felt across all sectors and regions," said EEF chief economist, Lee Hopley. |
"However, we have to maintain perspective that the recovery is coming from a very low base and the risks to the economy in the medium term haven't gone away." | "However, we have to maintain perspective that the recovery is coming from a very low base and the risks to the economy in the medium term haven't gone away." |