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Scottish engineering companies “optimistic” for the future

Category: Scottish Economy — Paul Morgan on June 8, 2013

An output rise has seen Scottish engineering companies become increasingly optimistic about the future, according to a recent industry report.

The findings come courtesy of the Q2 Scottish Engineering Quarterly Review.

The study also showed that staff recruitment was up, whilst training initiatives too increased in the same time frame.

However, despite an increase in output in every other sector of the industry, electronics engineering remained down.

The report said:

“With output volumes improving across all sectors except electronics, and order intake holding, it would appear that the improvement in the levels of staffing is also indicative of positive predictions for the next quarter.

“Within the sectors, the second quarter of 2013 has not been particularly auspicious for the electronics sector.”

It shows that orders are picking up across the industry, which is further helping firms already having shored up their financial strategies with invoice factoring, and other alternative strategies.

Smaller companies were said to be performing best in regards to the numbers of orders being received too. This was further reflected with optimism for future growth from SMEs being higher than in their larger counterparts.

In total though, levels of optimism were high for continued growth in the next quarter.

The biggest industry winners throughout the period measured were machine shops and metal manufacturers, which similarly are most confident about the future. The transport sector was also more positive about future order levels.

Scottish Engineering’s previous study, which covered the first three months of the year to March 2013, showed the first drop in output in over two and a half years.

'Disclaimer: The information contained in these articles is of a general nature and no assurance of accuracy can be given. It is not a substitute for specific professional advice in your own circumstances. No action should be taken without consulting the detailed legislation or seeking professional advice. Therefore no responsibility for loss occasioned by any person acting or refraining from action as a consequence of the material can be accepted by the authors or the firm.

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