U.K. Manufacturers See Better Prospects In 2014: EEF

(RTTNews) - Britain's manufacturers are expecting an improved outlook in 2014, a survey of senior executives published by EEF, the manufacturers' organization and Aldermore Bank showed Monday.

An estimated 2.7 percent growth in manufacturing puts U.K. top of EU growth league, the report said.

The survey showed that the efforts necessary to remain competitive and grow in an uncertain world will continue in the year ahead. Two fifths of companies said they plan to invest moderately in the UK, with a further fifth saying their investment would be significant.

If the investment pick up is further delayed there will be consequences for both supply chain capacity and growth across the wider economy.

"Global uncertainty and rising energy costs pose significant risks and, the challenge for industry and government this year will be to get industry's investment plans over the line," Terry Scuoler, chief executive of EEF, the manufacturers' organization, said.