Expectations high for economic upturn, says survey

Jan. 10, 2011 - PRLog -- Businesses in the West Midlands are showing “a real fighting spirit”, according to the West Midlands Chamber of Commerce. The organisation's recent survey revealed more than half of the region’s businesses said they were confident of improving their fortunes in 2011.

Figures from the survey imply any recovery may be led by the “softer” service industries although manufacturing, the traditional bedrock of the region’s economy, has high hopes that fortunes will improve.

The service sector, which includes professional services, tourism, hotels, catering, transport, market and media and retailing and wholesaling, also reported improved sales and order books.

Mike Ashton, WMCC board member and chief executive of Hereford and Worcester Chamber of Commerce, said: “This shows a real fighting spirit among the region’s business community. The fact that over half feel that both sales and profitability will increase through the New Year shows their determination to tough out the downturn.”

The home market recorded the highest figures for 12 months. Forty-one per cent said sales had improved, while 37 per cent had fuller order books than at any time in a year.

Ashton said: “The increased figures are encouraging but we must remember that we are starting from a very low point. Figures have been extremely low for two years but we are right to hope for improvements in 2011 provided a double-dip recession can be avoided.”

http://www.stephensgaskets.co.uk/

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