'Realism' over manufacturing pay

ManufacturingPay rises in manufacturing firms this year have averaged 2.6%, just 0.1% up on the last quarter of 2011, according to a study.

The EEF manufacturers' organisation said a survey of 300 companies also showed that the number of wage freezes has fallen to under one in 10, while one in 20 settlements are being deferred.
Lee Hopley, chief economist at the EEF, said: "The main pay bargaining round for manufacturing has passed with little or no pay pressures evident.

"It is clear that the cocktail of competitive pressures and continued economic uncertainty is leading to a sense of realism on both sides of the negotiating table."

Three out of four deals were at or below 3% - below the current 3.6% RPI inflation rate - with a handful worth 4%.

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