UK EEF/BDO – Factories growing at fastest rate since Q3 2013

The latest survey from manufacturing lobby EEF and consultancy from BDO shows UK firms reporting growth rose to 31% in the first quarter; the fastest rate since the third quarter of 2013.

The firms expecting a pickup in growth in the second quarter rose to 33%. EEF chief economist Lee Hopley says the post referendum weakness in the manufacturing sector is history and the activity is now gaining pace more equity than even they had predicted.

Give the upbeat survey; we could see Markit PMI manufacturing numbers improve over the next few months.