Survet reveals manufactring optimism
A
DFA Media product story
Edited by the Engineeringtalk editorial team
Mar 25, 2003
A February survey by Drives and Controls, the prominent industrial trade show, suggests that the end of the UK manufacturing recession is in sight.
A February survey by Drives and Controls, the prominent industrial trade show, suggests that the end of the UK manufacturing recession is in sight.
The survey was conducted by an independent research company and asked, "How long do you think the manufacturing downturn will continue?".
A surprising 24% of respondents stated that they weren't suffering from the recession in any way.
Furthermore, while 37% said that the recession would last for less than a year, 8% said it would last less than six months.
Only 17% said that they could see no end to the recession.
Of the respondents quizzed, 50 worked at director level and 50 at engineer level.
Nearly twice as many directors than engineers believed that the recession was having no effect.
"Either senior staff have a clearer picture of the health of their company, or they are failing to communicate effectively with their employees", said Ken Purchase, organiser of Drives and Controls.
However, only 11% said that they were kept badly informed, when responding to the question, "How well informed on its financial health does the management of your company keep you?".
Clearly, the message that good communications is the key to keeping a business healthy and employees happy is hitting home.
"This is positive news for the manufacturing sector", said Purchase.
"Our survey questioned a cross section of engineers - from design, systems and electrical engineers to product development, technical support and sales engineers.
As a result, I think it provides a picture of the industry as a whole.
Some sectors are heavily hit while many are still thriving.
Still others are operating false profit margins; they have merely sweated their assets instead of buying new equipment.
We have seen this, for example, amongst electrical contractors.
They have increased profit margins by 'using up' stock items instead of reinvesting".
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