“Clearly the turbulence in manufacturers’ major markets in Europe has gone past depressing only sentiment and is now holding back production. While there is little sign that this uncertainty will come to an end any time soon, we can take some heart that output appears to have begun growing again in December.”
EEF added that evidence from its recent survey of over 200 senior manufacturing executives showed that sentiment remained positive about 2012 with many companies looking to take advantage of opportunities in emerging markets.