Newspaper article The Journal (Newcastle, England)

Owners Ready to Invest; MANUFACTURING

Newspaper article The Journal (Newcastle, England)

Owners Ready to Invest; MANUFACTURING

Article excerpt

Byline: Coreena Ford? 0191 201 6331 ? coreena.ford@ncjmedia.co.uk

HALF of manufacturing firms expect to invest in their business in the coming months, according to the Manufacturing Advisory Service.

A survey of almost 700 companies showed 12% more than a year ago planning to spend on new machinery and premises. Just over half of the small to medium-sized enterprises polled reported an increase in sales in the first half of the year.

David Caddle, of the Manufacturing Advisory Service, said: Manufacturers tend to be very cautious and traditionally would have needed significant confidence in the long-term future to relax the purse strings.

Encouragingly, our latest barometer provides the clearest indication yet that companies are prepared to invest in new machinery and their premises in a bid to remain competitive and take advantage of significant opportunities both at home and abroad.

Business minister Michael Fallon said: These findings are the latest indication that the economy is starting to head in the right direction, as we move from rescue to recovery. …

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