Manufacturing Barometer shows slow signs of recovery

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SME manufacturers in England have expressed increased optimism around turnover, profits, jobs, and investment but the effects of Covid-19 on businesses will be felt for months to come.

Manufacturing Barometer

These are some of the findings from the latest Manufacturing Barometer which has found manufacturers slightly more optimistic about their prospects over the short and medium term.

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Conducted by SWMAS (South West Manufacturing Advisory Service) and the Manufacturing Growth Programme (MGP), the report shows that 76% of firms saw sales drop in the last six months, with 48% predicting sales to decrease between now and the end of the year. Forty per cent are expecting a rise in future sales compared to the nine per cent who predicted this in April when the last Manufacturing Barometer was published.

According to the results, over a third of respondents describe their status as static or growing, with some businesses reporting very little change since the COVID-19 crisis, and others experiencing an increase in product demand. Over half (59%) of respondents describe their business’ status as “surviving” or “recovering”.

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