Britain’s manufacturers are looking past economic gloom and focusing on generating continued growth in their own business through 2012, according to a major survey of senior manufacturing executives published today by EEF, the manufacturers’ organisation.
They are seeking to achieve this by increasing exports of products and services to emerging markets
The Manufacturing Executive survey, published together with EEF’s 2012 Economic Prospects report, shows the outlook for the economy in the year ahead comes with a high degree of uncertainty.
The main challenges stem from the unresolved eurozone crisis and its potential negative impact on access to finance and the ability of other markets to shake off the effects of recession.
This uncertainty is shared by manufacturers and has fed through to a deteriorating view of growth prospects for the economy as a whole.
A fifth (21 per cent) of executives expect the condition of the UK economy in 2012 to be better than in 2011, but around half (49 per cent) believe conditions will worsen.