Bank of England sees plastics as key indicator
By Anthony Clark
Posted 13 July 2012
Senior staff at the Bank of England were “pleasantly surprised” by the findings published in the latest BPF trends survey, according to federation’s public and industrial affairs director, Philip Law.
“Plastics is a broad, complex industry,” he said. “Our star performers are supplying into automotive – overall, technical applications for plastics are buoyant. However, there’s a flat performance in the construction sector and there are fears that it might be going backwards.”
Law added that while raw materials pricing pressure is “easing” there are still underlying concerns with regards to attracting skilled staff into the industry. “It’s a big worry and it could limit companies’ abilities to seize the day. The age profile at the top level is relatively high – technical skills aren’t coming through, which is worrying.”
Peter Davis, BPF's director general, added: “There’s a positive mood in the plastics industry – it’s not all doom and gloom out there. The Bank of England sees us as a key indicator for the manufacturing economy.”
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