Manufacturers report higher business confidence

Confidence in the manufacturing sector in Coventry and Warwickshire has reached record levels, according to the Coventry and Warwickshire Chamber of Commerce’s first Quarterly Economic Survey of 2018.

Conducted in conjunction with Warwickshire County Council, the report states that manufacturers scored 83.8 on the business confidence chart when surveyed, where presents 0 represents no confidence, and 100 represents absolute confidence.

That has increased from 80.0 in the final quarter of 2017 and was partly due to stronger overseas orders, the report states.

Louise Bennett, chief executive of the Coventry and Warwickshire Chamber of Commerce, said the “confident picture in Coventry and Warwickshire bodes well for the future.”

“It is clear that there is great confidence among our manufacturers and that bears out what we hear anecdotally. In fact, one of the issues we have is finding the space for companies across the patch who want to grow and take on more people,” she said.

“Overseas orders have risen and that would suggest that some manufacturers are starting to see some benefit from the fall in Sterling when trading abroad.”