British manufacturers report higher orders from home and overseas buyers
UK manufacturing companies reported growth in new orders and improved demand in both domestic and foreign markets, while passing part of their costs on to customers.
British manufacturing companies are showing resilience: they reported higher levels of new orders and improved demand from both domestic and overseas customers. Some of the rise in costs has been passed on to buyers.
According to published data, firms are noting a strengthening inflow of new business contracts. The growth in demand has affected both the UK domestic market and export destinations, which points to continued interest in the products of British manufacturers beyond the country's borders.
At the same time, pressure on costs has not disappeared. Companies have had to partly pass on rising prices for raw materials, energy and other expenses to end consumers, which helps maintain margins under persisting pricing constraints.
This picture is important for assessing the state of the British economy as a whole. The resilience of the industrial sector, alongside growing orders, is viewed by analysts as a sign that production is holding its ground despite inflationary pressure and uncertainty in foreign trade.
Source: standard.co.uk
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