British manufacturers expect demand from emerging markets to surge this year, data published by EEF, the manufacturers' organization and RBS showed Tuesday.
According to the survey, manufacturers are stepping up their investment plans to capitalize on surging demand from emerging economies and provide a long term growth presence in overseas markets.
Exports are increasingly the lifeblood of manufacturers. About 70 percent of firms expect exports to grow and 90 percent export to emerging markets. Shipments to China and India will rise by up to half within five years, the survey revealed.
"The challenge for government is to provide the framework to help industry fulfil its growth potential and hit the Chancellor's £1trillion target," said EEF Chief Economist, Lee Hopley.
by RTT Staff Writer
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