Confidence in the manufacturing sector is high, with around 70% of companies surveyed by employers group Ibec expressing a positive outlook.
Ibec’s Facing Forward: Manufacturing Confidence Amidst Evolving Challenges report spotlights obstacles to manufacturers such as rising operational costs related to wages, raw materials, and energy.
However, many manufacturing firms expect improvements in productivity and profitability over the next year.
Seven in 10 respondents express positivity at both national and enterprise level, effectively unchanged from last year.
In terms of cost challenges, over three-quarters of respondents expect increases in wage growth (76%) while just over half (52%) expect increases in raw materials costs, with the same figure (52%) expecting increases in transport costs.
Beyond cost increases, almost-two thirds of respondents (65%) expressed concern about attracting and retaining talent, while half of respondents (53%) noted the availability of housing for employees as a major challenge.
The report also shows that productivity is the top priority for a third …