It's a good start to the UK's first Manufacturing Week.
First EEF's Manufacturing Outlook shows that Britain’s manufacturers are looking to the future with greater confidence about the prospects for recovery: orders are returning and companies are consequently the most upbeat since the financial crisis began in mid-2007.
And then today's PMI's showed sustained strength, and the best export-orders since July 1996! More importantly, the Eurozone PMIs showed renewed strength in German and French manufacturing...again, more good news for exporters.
But we have to be cautious about predicting a strong rebound, as a number of factors could knock growth off track.
The recovery depends on world markets continuing to grow, and the financial system’s ability to provide finance is yet to be fully tested. And investment plans are also likely to remain on hold until manufacturers get a better sense of how a new government plans to repair the public finances.