MANUFACTURERS are more upbeat about the UK’s economic prospects this year – although the potential for a world slowdown continues to “cast a shadow” over industry, according to a new study.
A survey of more than 100 firms by employers’ body the EEF showed that business leaders feared eurozone markets would offer few growth opportunities in 2013.
About a third of those polled said they expected economic conditions to improve, although one in four predicted a further deterioration.
Andy Tuscher, Yorkshire region director for the EEF, said: “The past year has been a challenging one for UK manufacturers, but as they look to 2013 there is still growth potential in their businesses.
“The increases in investment in innovation in recent years will bear fruit as companies see opportunities from new product development and, the commercialisation of new technology.
“Moreover these efforts will provide a platform for UK exporters to compete in faster growing markets and support efforts to diversify into new supply chains.”