Manufacturers' confidence high.
Byline: Enda Mullen Business Reporter email@example.com
MANUFACTURERS in the West Midlands are leading the way when it comes to business confi-dence and exports, according to a new report.
The annual report by EEF, the manufacturers' organisation, and law firm DLA Piper - Regional Manufacturing Outlook - revealed manufacturers in the West Midlands are in pole position in the business confidence league.
The region scores 6.86 out of a possible ten points for confidence, placing it first out of nine regions and indicating Midland manufacturers are feeling more confident than their peers anywhere else in the UK.
The region also scores highly for exports, making the second biggest contribution to the UK's total manufactured exports at 12.1 per cent.
At the same time, the West Midlands is the UK's 6th highest MARKETWATCH FTSE 100 CLOSED: dn 74.68 at 6505.13 FTSE 250 CLOSED: dn 231.55 at 17267.56 GOLD FIX: 1100.00 ($/oz) SILVER FIX: 947.25 (p/oz) WALL STREET CLOSED: dn 163.39 at 17568.53 TOKYO CLOSED: dn 194.43 at 20350.10 region in terms of manufacturing output.
The sector accounts for 13.9 per cent of regional output and contributes 10.1 per cent to the UK's overall manufacturing output.
The report also reveals manufacturers in the Midlands employ 13 per cent of the region's total workforce, meaning almost 336,000 people are now employed by manufacturers across the region.
Companies have now reported nine consecutive quarters of output growth.
Richard Halstead, Midlands and East Region director at EEF, says: "This report shows that West Midlands' manufacturers are punching above their weight and putting our region on the map."