High-tech manufacturers positive about 2011 prospects

However, the 400 senior executives polled for the first GE High Tech Manufacturing Index also expressed concerns on other issues such as access to capital and raw materials.

Three-quarters of high-tech manufacturers questioned were upbeat about the current performance of their business and 71 per cent of those questioned said they expected the performance of their own business to be a little better (44 per cent) or a lot better (27 per cent) over the next 12 months.

The executives questioned were much more upbeat about prospects for their own business and the high-tech manufacturing sector in general in 2011 than the overall UK economy. Just 38 per cent of those questioned felt the general economic situation would improve.

More than a quarter of firms said they had achieved double-digit growth in 2010, and almost half of those questioned (48 per cent) are expecting to increase their headcount in 2011 with an increased average in personnel of 5.7 per cent.