UK manufacturers remain uncertain about their prospects, a survey said today.
Figures from the EEF employers’ group said cashflow constraints, uncertainty about the strength of markets and tight credit conditions put in doubt prospects for recovery in the coming year.
The third quarter survey said conditions had stabilised in recent months, but manufacturers were not expecting a quick turnaround in the sector’s fortunes.
Manufacturers in Yorkshire reported an improvement in output, although still negative. Cashflow had improved but remained lower than the rest of the UK. Employment prospects have eased slightly but continue to cause concern.
EEF regional director Alan Hall said: “Manufacturers are telling us that output is starting to stabilise, but there is little sign of confidence coming back.
“Production is well below pre-recession levels and the road to recovery is likely to be long and bumpy.
“Tight cashflow and accessing finance are likely to be major roadblocks”, he said.
