Manufacturing activity among small and medium-sized enterprises (SMEs) has surged to a three-year high.
Figures released by the Engineering Employers Federation (EEF) show output balances have reached their highest levels since 2010.
Nearly a third of companies (32 per cent) reported increased output, up from 12 per cent in the previous quarter.
Recruitment among SMEs has also remained steady, with the number of companies taking on extra staff increasing by one per cent compared with the previous three months.
Lee Hopley, the EEF’s chief executive, said: “There is growing confidence that improving trading conditions will continue into the final months of this year and then accelerate through the gears in 2014.”
The report also said forecasts for both gross domestic product and manufacturing have been upgraded for next year.
It also points towards a stronger domestic market as a driving force behind positive figures for the last quarter.
The Manufacturing Advisory Service recently revealed half of SMEs are planning to invest in new machinery and premises in the next six months.
Posted by the Secret Businessman