Manufacturing firms reported a steep rise in output in September, despite fears that the Brexit vote would hold the sector back. According to a survey from the Confederation of British Industry (CBI), 37 per cent of firms said they expected to increase output in the three months to December, with 15 per cent reporting a fall giving a balance of 22. This compared with a balance of 11 in August.
Commenting on the findings, the CBI’s chief economist, Rain Newton-Smith, said: “It’s good to see that manufacturers are enjoying a lingering summer with output running at a strong pace and manufacturers’ order books remaining solid, particularly amongst the food, drink and motor vehicles sectors.”
At Beavis Morgan, our specialist advisers to the manufacturing sector are able to assist with business growth and optimisation. Our Research & Development (R&D) tax credits team have also made a significant number of successful claims on behalf of clients in the manufacturing sector. Contact Steve Govey or your usual Beavis Morgan Partner for further information about how we can assist you and your business.