The Chartered Institute of Purchasing & Supply reported that the manufacturing sector saw the third-biggest rise in the survey’s history in October. An increase driven by an upturn in new orders, many of which had been shelved last year.
David Noble, chief executive CIPS, says: "It appears that the manufacturing sector has turned a corner and is starting to pull itself out of recession. After this long and deep downturn, manufacturers are now reporting strong growth in both output and new orders."
Chippenham-based Fascia Graphics manufactures membrane keypads for the printed graphics industry. The company recently announced a recruitment drive after winning 40 new customers in the last two months. As part of these new wins, the £2.5m-turnover company has won a major contract worth more than £250,000 over 18 months. Paul Bennett, MD of Fascia Graphics Limited, says that the growth of his company is firmly in line with the CIPS survey’s findings: "In a highly competitive marketplace, we have performed extremely well to pick up 40 new accounts. We have seen a continued uplift in sales since the start of 2009, and these latest contract wins will ensure that we match our sales pipeline to our aggressive growth strategy."
But don’t break out the party poppers quite yet. Noble has also cautioned that manufacturing recovery is still in a delicate state. "The sector has been so hard hit since the recession began that it will be a long time before it returns to its previous level," he says. "Manufacturing is still fragile and will be highly vulnerable for some time to come."