Manufacturing Outlook
If you haven’t already seen it, our Manufacturing Outlook, in partnership with BDO, was released earlier this week. Manufacturers in the South West have seen a mixed performance at the end of the year. While most indicators remained positive, growth has slowed compared to the previous quarter, which is very much in line with the national picture and other business surveys.
The key findings:
- Prices increased for the fourth quarter in a row, and expected to continue into 2022
- Output volumes and orders suggest a slowdown but growth remains strong
- Domestic market orders outpace export orders, but both slowing
- Employment growth stable, investment still positive but scaling back slightly
- Expectations for Q1 2021 remain positive, but manufacturers expect further slowing
- Manufacturing output growth forecast for 2021 at 6.9% and 3.3% for 2022