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Scottish engineering orders on the rise

Category: Scottish Economy — Mark on September 4, 2013

A new industry survey has revealed that the number of engineering orders being placed in Scotland is at a two-year high.

The news comes courtesy of the Scottish Engineering quarterly review.

According to 45 per cent of those completing the survey, there has been a rise in orders, whilst a further 31 per cent reported order levels remaining stable. Just 21 per cent of respondents said there had been a drop.

The results of the survey also showed that output was buoyant, with 38 per cent saying it had risen and 43 per cent reporting stability. Just 19 per cent said they had seen a decrease in output.

The report went on to say:

“The improvements in order intake and output volumes which were enjoyed last quarter have improved considerably in this review.

“Orders have reached levels last recorded early in 2011 and output volumes continue to rise.”

The results showed that the electronics sector had been the busiest, whilst exporting further afield was also key, with the chief executive of Scottish Engineering, Bryan Buchan, saying:

“We are also seeing a significant number of companies successfully trading out with the Eurozone.”

Many companies have started exporting for the first time too. An additional positive benefit of working with Scottish factoring companies to refinance, expertise in conducting business overseas can also be readily sought.

With 25 per cent of all members also reporting that they had recruited more staff, the survey results had more good news.

According to forecasts, both order numbers and staffing levels will continue to rise for the next three months at least.

'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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