According to the latest SME trends survey by CBI (Confederation of British Industry), optimism among UK’s smaller manufacturers is at record level. In the three months up to October (42%) firms reported that total new orders increased for the first time since July 2012 and (25%) said they decreased, giving a balance of +17%. This greater optimism and activity among small and medium enterprises has led to a change in the investment plans for the year ahead, with forecasts for spending on product innovation, plant and machinery, buildings and training all in a positive territory.
According to the survey, 42% of firms say an increase in domestic orders and 22% reported they decreased, giving a balance of +20% is the highest since January 1995.
33% of firms have an increase in export orders and 19% have a decrease, giving a balance of +14%, this is the highest since April 2011.
Output increased modestly at +8%, and predicted to increase (+15%) further in the next three months.
The quarter for which the survey has been made is a positive for for SME manufacturers, with output and new orders both on the rise. The SMEs expect further improvement in the following quarter.
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