Manufacturers are increasingly using Elo TouchScreens and other touch screen technology to help make their processes more effective and efficient. During periods of growth, demand for Elo touch products and other similar resources can rise.
It seems as though many manufacturing organizations may need to stock up on additional provisions. Writing on The Information Daily recently, Lee Hopley, chief economist at manufacturers’ organization the EEF, suggested things were looking up for the sector.
She Remarked: “There is a lot of focus on a whole range of manufacturing indicators at the moment. Economists and policy makers are looking for signs that the sector is in recovery and can be a bigger driving force in re balancing the UK economy.”
The expert added that over recent months, better news about UK manufacturing “has been rolling”. For example, the balance of manufacturers increasing output rose to a three-year high, overseas orders posted a two-year high and demand in the domestic market is “seeing something of a resurgence”, she claimed.
Ms Hopley Went On To State: “We’re not the only organization seeing a pick-up in trading conditions across the sector – the Purchasing Managers’ Index has also been making gains since May 2013.”
She did acknowledge that figures provided by the Office for National Statistics suggested output declined by 1.2 per cent in August. However, this is not an indication that the recovery is drifting off track, she added.
On This Topic, Ms Hopley Said: “Manufacturing is an extremely diverse part of our economy – covering everything from food processing and clothing to high-end sports cars and power generation equipment. As such, different parts of industry will be subject to varying drivers of growth, and indeed temporary setbacks, as we saw in August.”
Meanwhile, there are some important factors both at home and abroad that are providing support to UK manufacturing, she suggested. For instance, “the outlook in our major European markets has at least stabilized since the start of this year”. Also, UK manufacturers have been diversifying into new export markets and emerging economies in Asia and South America, she pointed out.
On this last point, she commented: “Between 2010 and 2012, UK sales of manufactured goods to China were up 40 per cent; to Brazil were up by a quarter; to Russia were up more than 60 per cent and to Indonesia were up by more than half.”
Pulling all of this information together, she added, the EEF is predicting a positive contribution from British manufacturing over the third quarter. Also, a stronger 2014 is in prospect for most sectors, she added.
In order to help ensure they are primed to exploit market conditions, firms may need to invest in new and improved equipment, such as additional Elo TouchScreens drivers. Of course, enhancing equipment in this way requires expenditure, but this could prove to be money well spent.
Indeed, Ms Hopley noted that companies are planning to make new investments in modern equipment, adding that they are “focusing on innovation across new products and services”.
About The Author – Anna Longdin is a freelance blogger who has written extensively on the subject of manufacturing for a number of sites, including Distec.