Manufacturers optimistic about the year ahead
Britain's manufacturers are more optimistic about their prospects for 2014, according to a survey by EEF.
The survey of 200 companies is said to paint a more positive outlook than that of twelve months ago; growth is expected in all markets and across all sectors and sizes of companies.
EEF chief executive Terry Scuoler, pictured, said: "Manufacturers are telling us they expect to make a greater contribution to growth, investment and jobs this year.
"Innovation, energy and diversifying into new supply chain remain key opportunities but the UK and the Euro-zone are also looking better."
Scuoler warned, however, that global uncertainty and rising energy costs still pose significant risks.
"The challenge for industry and government this year will be to get industry's investment plans over the line," he continued.
Overall, 70% of companies surveyed by EEF expect the UK economy to improve in the coming year, with 62% expecting manufacturing prospects to improve.
The survey reveals that actions to improve productivity, greater supply chain collaboration, strong communication with employees and increased overseas marketing efforts will top the list of strategies for manufacturers in the year ahead.
