Positive picture for manufacturing investment

Looking forward over the next six months, 35% of survey respondents indicated investment would be higher or much higher in comparison to the previous six months, and only 5% said investment would be lower or much lower – hinting at a positive start for 2011. These results indicate that after a reduction in spending during 2009 and into 2010, businesses are looking to invest more to help reinvigorate the sector over the next two quarters. The September survey also showed a high level of inquiries, and consequently business confidence, following a seasonal dip over July and August. Although invoiced sales were unchanged compared to the August results, the majority of respondents reported a month-on-month increase in orders in September. Employment results were positive in September with almost 20% of respondents reporting an increase in the number of people they employ, extending the run of this positive balance in employment to three months.