Monday, March 1, 2010

UK Manufacturing Sector’s Economic Outlook

Engineering Employers Federation and business advisers BDO claimed that the UK manufacturing engineers are gradually becoming more confident about the economic outlook. During past few months, an improvement in manufacturing sector and engineer jobs UK has seen in output and orders.

The CBI employers' organization stated that the service industry business stabilized in the last three months. But, it notifies that the UK business and professional services sector would proceed to cut engineering jobs due to tough financial conditions in 2010. A 24% of surveyed firms told the value of their business climbed, while 26% said it declined, giving a balance of -2%.
CBI chief economic adviser Ian McCafferty commented, “Overall, these figures are consistent with our view that the economy is recovering slowly, but that we will have to wait for a while before growth picks up.”

Aside from automotive industry, which was encouraged by Government’s car scrap page scheme, electronic engineering also did well in the past months and a rise in overall engineering recruitment is seen in UK.
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