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These are the findings of a new report by the Engineering Employers Federation (EEF) and BDO, which revealed that businesses operating in this area have seen market conditions improve during the final three months of 2009.
Tom Lawton of business services firm BDO stated that it is "pleasing to see that conditions in the sector have stabilised" - a comment that may be welcomed by those trading shares in engineering companies on the stock market.
But he warned that 2010 is still likely to be challenging due to the fragile state of the economy and Lee Hopley, chief economist at the EEF, added that a "long, slow haul out of recovery" is the most likely scenario.
The report comes after Monetary Policy Committee member Spencer Dale said last week that the economy is beginning to grow again, with government intervention having helped to minimise the effects of the downturn.
Posted by Greg Secker
