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Scottish manufacturing loses momentum |
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Tuesday, 23 October 2007 |
The latest Scottish Industrial Trends Survey published today by CBI Scotland shows a slowing of momentum within the manufacturing sector.
Manufacturers suffered a stagnation in total orders, as well as falling
output and domestic prices over the three months to October.
This slowdown in demand had been expected by manufacturers, and
conditions in the sector look set to remain relatively downbeat next
quarter.
Iain McMillan, Director of CBI Scotland, commented: "Scottish industry
has performed well over the past few years, however the data from the
latest quarter clearly shows some of that recent sparkle has worn off.
"While expectations for the next quarter are muted, there is good
reason to hope this might prove temporary, with businesses telling us
their twelve-month forecast for investment intentions in respect of
innovation and training remain firm, and with plans for capital
investment set to perk up. This ought to enhance their productivity and
competitiveness and make firms better placed to respond to any future
growth in orders.
“This quarter’s results are a reminder that the continued health of the
sector cannot be taken for granted. Ultimately the success of
manufacturers will continue to depend on their own products, talents
and ability to respond to customer demand, and the support on offer
from Scottish Enterprise’s Manufacturing Advisory Service is welcome
recognition of this.
"However there are a number of factors influencing the success of
Scottish manufacturing, and we will continue to lobby policy makers to
keep a firm lid on those costs under their control and influence that
affect business, particularly taxes, charges and regulation."
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