Signs of improvement

Factories expecting fewer job cuts as confidence grows

women female engineeer (Institute of Engineering and Technology)

Industry is seeing signs of improvement

Scottish Engineering, the trade group for the country’s industrial companies, said expectations of job losses had slowed amid “tentative signs of improvement”.

Companies planning further redundancies has fallen from 60% in the previous quarter to 21% with 15% unsure based on lack of forecast clarity.

This provided some optimism for 2021, although concern remains that the hardest hit sectors in the sector will see slower recovery as their demand recovery lags.
 
Key attention points such as orders, output and exports show “considerable” improvement from an average -43% to an average -4%.

Confidence overall has improved significantly from –40% to -9%.

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