Engineering orders in the West Midlands rose for the first time in 18 months between June and September this year, according to the latest regional quarterly survey from Engineering Employers’ Federation West Midlands.
But the recovery is fragile and has been put at risk by last week’s interest rate rise, the survey said. Home orders, investment and plant utilisation all rose, but export orders fell and jobs continued to be lost.
The survey, which was carried out before the base rate rise, predicts an acceleration in orders and plant utilisation over the next three months.
David Botterill, chief executive of EEF West Midlands, said: `To raise interest rates at this stage isn’t going to help us at all.’
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