Manufacturers are reporting the best set of overseas sales and orders figures ever recorded by the region's largest business survey
North-east firms have provided a postive start to Export Week - which runs from today until Friday - with manufacturers reporting the best set of overseas sales and orders figures ever recorded by the region’s largest business survey.
Business optimism across the North-east continues to rise as firms delivered another boost for the regional economy at the start of 2014, reporting an upsurge in trade with foreign markets.
The North East Chamber of Commerce’s Quarterly Economic Survey, produced in partnership with Barclays, today reveals orders, sales and exports have risen to unprecedented levels for the QES and that firms remain focused on recruitment and capital investment.
The latest update shows confidence in the manufacturing sector - in particular, export sales and orders are looking good for the sector, boding well for further progress.
The QES is a trends survey that shows the health and direction of the North-east economy. Measured across 11 separate indicators, any score above zero indicates trading conditions are improving.
Across Teesside the QES figure for export sales doubled to 14.8 in the first quarter of 2014 with export orders also rising to 22.2.
Having charted slow but steady growth across most indicators throughout 2013, the last quarter returned the best set of results since 2003. And although these high levels could not be matched in the first quarter of 2014, the NECC said today’s figures demonstrate that confidence levels remain incredibly high.
NECC policy and research manager Mark Stephenson said: “It is always good to start the year on a positive note and these export figures are particularly good news at the start of Export Week. To achieve the best ever figures for export sales and orders for manufacturing companies is a real cause for celebration.
“2013 provided the foundations for economic growth and the last two quarters prove that business remains at the forefront of the recovery.”
Darlington-based SOLO TI, which specialises in the design, development and manufacture of life-saving thermal imaging equipment, is one North-east firm to have seen growth in its overseas market.
Its clients include NASA, a number of cruise liner companies and several Formula One teams.
Managing director Victoria McLaren said: “It’s fair to say that 2102 was a slow year for us but things have improved significantly and we have seen real growth across our cruise market over the last 12 months, along with the Middle East, which bodes well for our future.”
UK Trade & Investment’s fifth Export Week starts today and will offer help and advice to companies across the country.
Find out more at http://ift.tt/PrUF3K.
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