The latest South East Regional Intelligence Snapshot, prepared by the South East England Development Agency (SEEDA), has shown increased manufacturing orders in the last three months – the first time since early 2008.
Some 41 per cent of manufacturing firms in the south east and London expect an increase in total orders over the next three months, which is more than any other part of the UK.
According to a separate piece of research by Cambridge Econometrics, the forecast for manufacturing output growth for the south east is predicted to be 1.7 per cent in 2010. This, combined with the Regional Intelligence Snapshot, represents the south east’s strongest manufacturing performance in two years.
Paul Lovejoy, executive director for strategy at SEEDA, said: ’The reports show that growth is slow, but steady. Continued increases in business costs could slow the revival for manufacturing companies, however, forecasts look positive. What is encouraging is that the south east is home to cutting-edge industries, which are central to economic growth and future success.’
Prominent industries including aerospace, motor sport, marine, environmental technology and healthcare are based in the south east, with more than 24 per cent of the 18,000 SMEs falling into this category.
For more information or to download a copy of the Regional Intelligence Snapshot, visit www.seeda.co.uk.