Firms Predict Sales Boost for New Year Despite Economy Fears

UK firms are predicting strong sales figures over the New Year but many fear the countryís economy will slide according to a major new survey out today.

The Institution of Mechanical Engineers (IMechE), which is the leading voice for the profession, has just released its sixth Quarterly Manufacturing Survey (QMS) which over 300 companies have been involved in. Key findings include 33.5% fearing the economy will worsen, 37% predicting a boost in sales over the next three months and 25% predicting a rise in manufacturing capacity.

IMechE members, all professional engineers, have helped shape the survey which offers a true and relevant insight into the state of the nationís manufacturing and engineering sectors.

Another key find is the surveyís bespoke question: In your opinion, should secondary school students wishing to pursue engineering degrees undertake specialist engineering exams alongside traditional subjects such as Higher/A Level Maths and Physics. There was a fine divide between those that said yes, 45% and no, 55%.

On the downside, 34.2% said their employee numbers had dwindled in the last three months (September to November) and when asked their prediction for the next three months (December to February) 31% said employee figures could drop again.

The finds of this QMS echoe the recent findings of CBI/RDA survey which reveals that company profits are falling overall, despite increases in orders, output and employment.

The last QMS was published in February 2004 and results can be compared by logging onto the IMechE website