When manufacturing firms are expanding and taking on additional orders, they often need to stock up on new power tools, hand tools and other resources. Luckily for bosses, it is now easier than ever to do precisely this. By heading online, they can take their pick from an array of products and, as long as they know where to look, they can benefit from impressive value for money too.
It seems as though demand for tools may be on the rise among manufacturers in the UK. According to one industry expert, conditions within the sector are improving.
Writing on The Information Daily, chief economist at manufacturers’ organisation the EEF Lee Hopley suggested that UK manufacturing is on the up. She noted that the EEF’s Business Trends survey covering the third quarter of 2013 reported the strongest set of results for two years.
She added: “The balance of manufacturers increasing output rose to a three-year high; overseas orders posted a two-year high. Demand in the domestic market is also seeing something of a resurgence.”
Ms Hopley did note that figures produced by the Office for National Statistics suggested that the manufacturing sector declined by 1.2 per cent in August. However, she stated that this is nothing to worry about.
The expert added: “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.”
According to Ms Hopley, the fall in output was largely due to big falls in some other sectors, including food and drink, pharmaceuticals and electronics.
Meanwhile, she added that there are “some important factors at home and abroad that are providing more support for our industrial sector at the moment”. The stabilisation of the major European markets has helped, she claimed. Also, UK manufacturers have “worked hard” to expand into new export markets and emerging economies in Asia and South America.
On this topic, she stated: “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.”
Ms Hopley revealed that the EEF forecasts a positive contribution from manufacturing in the third quarter of the year, with a “stronger 2014 in prospects for most sectors“.
She went on to remark: “Companies are planning to make new investments in modern machinery and they are focusing on innovation across new products and services in order to secure customers in new export markets.”
Time-strapped managers who are on the lookout for additional resources for their companies can head online. The web offers a quick and convenient means of sourcing cutting tools and other products. Given the optimism expressed by Ms Hopley, it seems likely that demand for manufacturing equipment will remain high for the foreseeable future.
