Strong growth: Positive outlook

The Manufacturing Technologies Association (MTA) monthly members' survey for February has revealed an increase in orders, enquiries and subsequently, confidence, compared to results in January 2012, itself a strong month.

Total net new order intake grew by +17.6% on the January 2012 level, taking the cumulative level back to its second highest level, a little below the November 2011 peak. Business confidence registered its 4th consecutive positive figure and the balance of +35 almost matches the June 2011 figure. This is significantly above the long-run average. Total order intake grew by +17.6% (+16.7%) compared to January. This growth was led by the domestic market where orders were +28.0% (+12.5%) higher than in January; export demand fell by -5.8% (+28.6%).

Graham Dewhurst, MTA director general, said: "February was another good month with strong growth in orders accompanied by increases in the percentage balance for confidence and the level of enquiries across the engineering based manufacturing technologies industry; both are well above their long-run average levels.