Recruitment in Manufacturing sector at 37 year high
A new report from the Confederation of British Industry (CBI) indicates that the manufacturing sector is set to experience ongoing recovery. According to the CBI’s April Quarterly Industrial Trends survey, in which 451 manufacturers participated, growth in domestic and export demand is running at the fastest rate since April 1995 – and that recruitment is also accelerated, at rates which have not been seen since 1974! The CBI has stated that ‘the manufacturing recovery is firmly on track and looks set to continue’ as strong domestic and export orders growth has boosted factory output.
Demand and production are both expected to continue rising over the next three months, with companies predicting that output growth will be sustained at a similar pace to this quarter (+22%). At the same time, manufacturers expect domestic and export orders to continue to increase over the next quarter (+11% for both), at rates well above their long-run averages. Commenting on the report, Director-General of the CBI John Cridland said: “The manufacturing recovery remains firmly on track. Strong demand at home and abroad and rapid restocking over the past quarter have led to another solid rise in production, with growth expected to continue over the next quarter. It is also good news that manufacturers are continuing to take on more staff to handle the increased workload.”