Positive outlook for Warwickshire manufacturers

Positive outlook for Warwickshire manufacturers

The future looks bright for Warwickshire manufacturers with exports and confidence both on the rise, according to new research.

The Coventry and Warwickshire Chamber of Commerce has just completed its first Quarterly Economic Survey of 2016 which paints a positive picture of the sector.

The chamber focused its first two months of the campaign on exports and the service and manufacturing sectors in particular.

Over 70% of manufacturers involved said exports were on the rise compared with 53% in the final quarter of last year when the same research was conducted.

A quarter of companies in the service sector also said they expected overseas orders for the next three months to rise – compared to 27% in the previous quarter.

The research also showed business confidence was on the rise across the region, with 73% of companies expecting turnover to rise in the next 12 months.

Louise Bennett, chief executive of the chamber, said: “It was very pleasing to see so many companies who export from this region reporting an increase in sales in the first quarter of the year and we will continue to push the message of how important trading overseas is for business.

“Everything from the debate around the EU through to issues with recruiting staff are putting pressure on business and, as we identified when we launched Go For Growth, could all impact on companies’ plans for expansion.

“Since the launch of the campaign, we have seen companies coming forward and feeding in issues that could stifle their growth and certainly digital infrastructure and having the right property to grow into have been highlighted.”