The mood among Britain’s smaller manufacturers is finally improving, according to research.
Confidence at small and medium-sized businesses over the state of the economy has risen for the first time since April 2012, a survey by the CBI has found.
However, the positivity comes despite a drop in orders. Of the 390 companies surveyed, 37 per cent said total orders had fallen between April and June this year, compared with only 30 per cent reporting an increase.
Businesses do expect a pick-up in orders over the next three months, both locally and for export.
“Despite another disappointing quarter for small and medium-sized manufacturers, with output continuing to fall, optimism about the general business situation has risen for the first time since spring last year,” said Anna Leach, head of economic analysis at the CBI. “Firms expect demand to improve both at home and abroad.”