The CBI’s latest quarterly SME trends survey discovered new orders continuing to rise in the three months to July 2017 and export orders growing at their highest rate since April 2011. Employment also increased and hiring intentions for the next three months are solid. For the fuller picture please read the bulletin below issued by Insider News Media today.
Roger Mundy, Managing Director, Beardsley Theobalds. 2nd August 2017
Output up among small manufacturers – CBI
Small and medium-sized manufacturers increased output at the fastest rate in seven years, a new survey has found.
The CBI’s latest quarterly SME trends survey found new orders continued to rise at a strong pace in the three months to July 2017, with export order growth at its highest since April 2011.
Employment also increased and hiring intentions for the next three months is “solid”. However, the survey found that concerns about skilled labour shortages may limit output.
Alpesh Paleja, CBI principal economist, said: “It’s encouraging that activity among SME manufacturers has risen strongly over the past three months.
“Firms are clearly in an exporting sweet spot, able to exploit the competitiveness gains from a low exchange rate and a firm global backdrop.
“But the boost from a lower exchange rate will fade over time, so maintaining frictionless and tariff-free trade routes with the EU will be critical for future exporting success.”
The CBI’s report was compiled using the responses from 364 small manufacturing businesses.