Confidence rises in manufacturers, says survey
Manufacturing companies in Coventry and Warwickshire are more buoyant after the first quarter of 2011 than those in the service sector. That's according to the results of the Coventry and Warwickshire Chamber of Commerce's first quarterly economic survey (QES) of the year.
The survey said 67 per cent of manufacturers in the region are predicting a turnover rise in the next 12 months compared to 51 per cent in services.
Both figures are higher than in the QES conducted at the end of 2010.
Almost 200 companies from across the region responded to the survey, which acts as the chamber’s "barometer" of business confidence in the region.
Louise Bennett, chief executive of the Coventry and Warwickshire Chamber of Commerce, said: "It is absolutely crucial that the economy becomes more balanced than it has been for many years and that we bolster our manufacturing base.
"It’s good to see confidence also rising slightly in the service sector across Coventry and Warwickshire because it was falling towards the back end of last year, partially because of the impending government cuts.
"Overall, it was a positive survey for the region but nobody is getting carried away with these figures and we are still some way off being able to say that we are on the way to a firm, stable economic recovery."
Only 17 per cent of service-based businesses are expecting to increase staff numbers. Three quarters reported that staffing levels would remain the same over the next year.
Forty-two per cent of manufacturers said staffing numbers would go up and 48 per cent said they would remain the same.
More than a quarter (28 per cent) of manufacturers in the region said they would invest more in training over the next 12 months.
