Manufacturing production ‘least negative’ in over a year
Manufacturing production over the past quarter was the least negative since June 2008, according to figures from the Confederation of British Industry (CBI).
Manufacturing production over the past quarter was the least negative since June 2008, according to figures from the Confederation of British Industry (CBI).
The figures show that 32% of UK manufacturers say they expect the volume of output to fall over the next three months, while 27% said it should increase.
Demand remains weak, with a balance of 54% of manufacturers claiming that total order books including export order book levels are below normal, the seventh consecutive month that orders have remained significantly below par.
Richard Lambert, CBI director-general, says:?“Manufacturers are facing weak demand at home and abroad, and their order books continue to look anaemic.??
“More positively, expectations for manufacturing output over the coming three months are the least negative in over a year. This is partly because many firms have run their stock levels down quite aggressively over the summer, so some manufacturers are now looking to raise production.??
“It looks like destocking in the manufacturing sector may be coming to an end, which offers a further sign that the UK economy is starting to stabilise.”
