Slow but promising Q1 for subcontract sector

The latest Contract Manufacturing Index has revealed a fall in the subcontract manufacturing market of 19% in the first three months of 2022 compared with the final quarter of 2021. However, although the quarter started badly, it picked up strongly in February and, by March, it was 20% up on the average for the previous quarter – with suppliers winning work despite soaring energy prices, ongoing material supply worries and the war in Ukraine. In fact, March was the best month since August. Within the latest figures there was a strong increase
in machining business, up 14% on the
previous quarter.

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