Manufacturing sector remains 'resilient'
The manufacturing industry is weathering the credit crunch storm, according to the Manufacturing Institute.
New working methods mean that the industry has not had to rely on credit, which in turn has ensured sustained supply to those in manufacturing sales jobs.
However, in a survey carried out by the Confederation of British Industry (CBI) on April 24th, manufacturing output has failed to grow in line with firms' expectations.
But according to Paul Glossop, principle consultant for the Manufacturing Institute, those in "higher value added" sectors are coping particularly well.
"Conditions are pretty tough, but in those organisations that are looking at higher value added, then they tend to be able to do more successfully than organisations which are in a more commodity style of market," he added.
Sales jobs employees will no doubt be bearing the brunt of manufacturers not meeting the expectations of organisations following increased output throughout February and March, according to the Office of National Statistics.
Filed: 28-04-2008
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