Industry remains resilient
‘Optimistic’ factory bosses shrug off uncertainty
Exports remain robust and optimism is high among the country’s factory bosses, although there is concern about rising taxes.
Bryan Buchan (pictured), CEO of Scottish Engineering, the support group for the industry in Scotland, said: “We are delighted to see that the figures produced by our manufacturing sector are maintaining the healthy form that we saw throughout last year.
“Two aspects which make me particularly pleased are that export orders remain strong and prices are showing considerable improvement. When speaking to companies around the country I get the distinct impression that our industry is doing what it does best – getting on with the job in hand.”
Optimism remains high (38%up,49%same,13%down) and this is reflected in the forecasts for the next three months which are positive across all sizes of companies and all sectors except in UK sales margins.
Another important area is staffing which remains positive (24%up,54%same,22%down) for the sixth consecutive quarter though the trend has weakened slightly. Similarly, overtime working (36%up,39%same,25%down) remains positive but has also seen a minimal decrease over the previous quarter.
Mr Buchan concluded: “The Scottish Budget has been approved and industry views with concern the adverse income tax differential which this brings. It is to be hoped it is not the thin end of a much thicker wedge.”