Make UK’s fifth edition of the Manufacturing Monitor brings with it updates to a number of key stats from its previous editions. The latest survey includes information on manufacturers’ furlough activities, redundancies, sales & orders, operating levels, logistic costs & travel times, and future expectations.
In summary, manufacturers’ furlough activity has largely remained consistent with minimal changes since the previous report. Approximately 77% of manufacturers have furloughed anywhere between 1% and 50% of staff, with the majority of firms within the 26-50% category. For the moment, the expectation that manufacturers will, slowly, bring workers back on a part-time or full-time basis remains and more so given the recent introduction of ‘flexible furlough.’ Yet, it is the rising certainty amongst those that are looking to make workers redundant in the next six months that is increasingly concerning. Nevertheless, very few firms have indicated redundancy will be applied to large proportions of their entire workforce – whether this is a positive result is debatable.
The results for sales and orders continue to be poor, however, the survey’s trajectory indicate
signs of life returning as the share of those firms seeing an increase in activity are rising steadily. As of now, almost 99% of firms are open for business since lockdown restrictions were eased, as a result a number of manufacturers have encouragingly increased their operating activity nearer to their pre-Covid-19 levels. Although, a large gap still exists.