THE MANUFACTURING industry is ending the year on a high due to a buoyant domestic market, new survey data shows.
Output growth accelerated according to a net balance – the percentage of those reporting a rise minus those reporting a dip – of 17 per cent, up from 10 per cent in three months to September.
The domestic market was the source of strength with a net balance of 10 per cent of firms reporting growth, according to the figures released today by industry body EEF and consultancy BDO.
This contrasts with declining export sales as the Eurozone – the UK’s biggest export market – continues to struggle economically.
Investment plans are strong with a net balance of 17 per cent of firms planning to raise spending on capital in the next three months – up from 16 per cent three months ago.