Significant rise in manufacturing exports, survey reveals – Article Gerrards Cross : Nunn Hayward
The CBI’s latest Industrial Trends Survey showed that, in the three months to October, export volumes grew at their fastest pace for two and a half years.
The survey also indicated that competitiveness within EU markets rose at its fastest rate since 2000.
However, 47% of manufacturers revealed that the sharp depreciation in sterling has had a negative impact on their business, with just 32% stating that it has had a positive impact.
Concerns have also been raised over the shortage of skilled labour, with nearly a quarter of manufacturers stating that the reduced availability of such labour could limit output over the coming months.
Rain Newton-Smith, Chief Economist at the CBI, commented: ‘Firms will be seeking further details on a long-term industrial strategy from the Autumn Statement that combines sectors and places.
‘Ultimately, all businesses need greater clarity from the Government on the fundamental issues of skills and barrier-free access to EU markets as soon as possible.’