Companies start 2010 with strong UK and export business performance
1 min read
In January 2010, UK mechanical engineering firms reported their strongest month on month growth, in terms of inquiries (42-58 per cent reporting gains) and orders (47 per cent recording rises), for both UK and export business.
"They may only be one month's figures, but they are excellent. January is not only the fourth month in a row that UK and export prospects have both produced a positive balance. They are at record levels. And what is especially good news is that nearly half of all firms are reporting higher order levels too," says Martin Walder, EAMA chairman.
In January, there were five or more firms reporting an increase in inquiries for every one reporting a decline. On order intake, the ratios are two to one for UK business improvements and three to one for export.
The numbers also show that there may be an improvement in investment sentiment, with 22 per cent of companies investing in staff training and development, and a further 17 per cent in all areas of the business, making nearly four in ten firms overall.
Elsewhere, while 75 per cent of firms reported no change in their employment, there is a small positive balance of 5 per cent for firms reporting an increase in jobs (15 per cent) over those reporting job cuts (10 per cent).
Figures are taken from Mechanical Engineering Business Monitor for January, which is compiled by EAMA.
