Business leaders in Greater Birmingham expect manufacturing output from the region to “bounce back” in August after national figures for July showed that it fell by 0.9 per cent on the month, but was up by 0.8% on the year. Total industrial production in July 2016 was up by 0.1 per cent on the month and was up by 2.1 per cent on the year. Greater Birmingham Chambers of Commerce (GBCC) are currently surveying members for their third Quarterly Business Report of the year.
Paul Faulkner, chief executive of the GBCC, said: “Today’s figures for July 2016 come as no surprise. There was existing evidence that confidence and output in the manufacturing sector fell in July, following the initial turbulence created by the EU Referendum result.
“However, indications for August have been much more positive and we expect manufactures to bounce back. The Markit/CIPS Manufacturing Purchasing Managers Index saw a 41-month low in July but bounced back to an unexpected high of 53.3 in August.
“As for how this is affecting local manufacturers, we are currently waiting for the results of our Quarterly Business Report Survey for a detailed look at how the Brexit vote has impacted local businesses so far.
“I would actively encourage all businesses in the Greater Birmingham area to take part in our survey and attend our breakfast launch event on the October 11 for the latest insight into the local economy.”
The launch of the report takes place at Birmingham City University (7.30-9.30am), who are also sponsoring the event. To take part in the survey go to:
