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Small and medium manufacturers answer Bank of England's call for greater productivity

Improving productivity is helping small and medium manufacturers in England continue to grow and adapt to a general softening in the marketplace. According to new figures, 69% of firms say they expect to increase investment in new technology, machinery or premises in a bid to improve their productivity. The latest Manufacturing Advisory Service Barometer reveals that 57% of companies say they have already raised their productivity within the last six months, with 80% admitting further efficiency gains are necessary in order to remain competitive. Cautious optimism remains the other overarching sentiment among respondents. For the sixth successive quarterly report, over half of manufacturers (55%) recorded an increase in sales, with 67% expecting to grow between now and the end of March 2015. Moreover, 95% of firms are planning to either maintain or increase their workforce, highlighting the determination to retain skills and build capacity across the supply chain.

 

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