Prism rides out recession on a wave of trust & value

The UK economy is at last emerging from its longest period of recession on record according to figures published recently by the Office of National Statistics (ONS). For the past 18 months, challenging trading conditions in the UK have seen manufacturing decline in the face of reduced demand. This has meant that some manufacturers have lost customers, or gone out of business altogether. However, the latest manufacturing Purchasing Managers’ Index (PMI) has risen to 56.7 and the figure for new export orders increased to 58.1, up from 48.3 in December 2009. Any figure over 50 indicates increasing activity. Prism business development director David Dickin said: “It is good news that the economy has returned to growth. The recession has been a difficult time for manufacturing in general and the electronics industry in particular. That Prism Electronics has come through the recession without losing a customer despite aggressive competition is a testament to the value and service that it provides". “Our success in retaining customers means that we are now in an excellent position to begin to generate sustained profitable growth as the economy continues to emerge from recession”, David Dickin added.