National Manufacturing Barometer Survey (Special Focus: COVID-19 Contingency Plans)
MANUFACTURING SECTOR NEEDS URGENT FINANCIAL SUPPORT AMID CORONAVIRUS CRISIS
The latest Manufacturing Barometer highlights a need for accelerated Government support as SME businesses go into steep decline.
Small to medium-sized (SME) manufacturers are calling for greater and faster financial support from the Government as they confront plummeting sales, production volumes, and the prospect of job cuts amid the ongoing COVID-19 pandemic.
This quarter’s Manufacturing Barometer, which surveyed over 600 firms across England, reveals a stark picture of how the virus is affecting industrial confidence, with almost 9 out of 10 respondents predicting a drastic decline in production volumes and a similar number (85%) expecting sales to drop over the next six months.