BlogNewsRecord hike in manufacturing orders

Record hike in manufacturing  orders

Record hike in manufacturing orders

West Midlands UKIP MEP James Carver has welcomed more good news on the economy with manufacturers reporting the strongest increase in orders in 22 years.

This has been helped by the fall in sterling, strong demand in the UK and the global economic recovery.

The Confederation of British Industry’s quarterly report on the state of the UK’s manufacturing sector shows that the balance of businesses reporting a rise in total orders over the first three months of the year was the highest since April 1995.

The sharp pick-up was driven predominantly by export orders, which rose at the fastest pace in six years.

Manufacturers are even more optimistic about exports in the future, with predictions for growth at their strongest level in more than two decades. Companies are also hiring more workers to meet the expected demand.

Mr Carver, a member of the European Parliament’s Regional Development Committee, said: “The economy is going from strength to strength, which is great news for the country and particularly for the West Midlands power house – traditionally known as the workshop of the world, with Birmingham the city of 1,000 trades.

“The CBI’s report further undermines the Remoaners ill-founded fears that Brexit would be the downfall of our economy – quite the reverse is the case which is no surprise to me or my fellow UKIPers.”

Export hike in UK manufacturing

BRITAIN’S manufacturers are more confident about winning overseas orders over the next year than at any time since the early 1970s after exports rocketed during the first quarter.

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