Manufacturers in Coventry and Warwickshire are beginning to experience encouraging signs although many firms are still finding trading is tough, a survey has revealed.
The Coventry and Warwickshire Chamber of Commerce's Quarterly Economic Survey for the first three months of this year found that there is a more optimistic outlook in the region.
Manufacturing grew by 0.8 per cent at the start of the year and now more than 30 per cent of companies surveyed within the sector believe they will take on more staff in the next quarter while more than half expect to grow profits too.
Just 17.4 per cent thought they would have to reduce their staff numbers and 23.8 per cent believed profitability might dip. An even more positive picture is painted in the service sector as 32.2 per cent expected to increase staffing levels and 56.6 per cent believed profits would rise.
Alan Durham, of the Coventry and Warwick-shire Chamber of Commerce, said the figures showed a more positive outlook for the area but warned that conditions are still tough for many businesses.
He said: "This is good news for the local economy especially as more firms are looking to invest and take on new staff.
"But there is still much that could be done to aid companies. If government were to take some of the burden away it would probably lead to even more firms in the region having greater confidence in the future."
