Product category:
Engineering Industry Reports and Surveys
News Release from: Business Advantage Group
Edited by the Engineeringtalk Editorial
Team on 01 August 2002
Process engineering cautiously
optimistic
Almost two thirds of CAD managers in the process engineering industry are either quite or very confident that revenue in April to September 2002 will be higher than that of the preceding six months.
Almost two thirds (63%) of CAD managers operating within the process engineering industry are either quite or very confident that revenue in April to September 2002 will be higher than that of the preceding six months, according to recent research conducted by The Business Advantage Group Only 16% lacked confidence in this scenario, of which 2% said that revenue would definitely be lower
This article was originally published on Engineeringtalk on 16 Mar 2001 at 8.00am (UK)
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These findings concerning the business confidence of the process engineering sector were conducted in May 2002 with managers responsible for CAD functions at 90 UK-based sites.
The sample was taken from Business Advantage's database of 20,000 UK CAD/CAM user sites.
The research also found that 15% of the sample said they were planning to make a significant investment to improve the efficiency of their design and development processes in the next six months.
Two out of five managers of product development functions expect orders to increase in the third quarter of 2002 (July to September) compared with the second (April to June); 38% expect them to remain the same, while only 5% expect a decrease.
Chris Turner, Managing Director of The Business Advantage Group, observes: "The Confederation of British Industries (CBI) reported recently that the innovation activities of 84% of UK companies has been affected by the economic slowdown, with 31% cutting back on spending on technology.
However, while our own findings provide a simplified snapshot of business confidence from a small sample in the process engineering sector, they are encouraging nevertheless".
The full report, entitled "Process engineering confidence", including colour charts, can be read free of charge the Business Advantage website.
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