Growth steady but subdued says CBI
Growth in UK manufacturing output over the last three months remained steady but subdued, however manufacturers expect it to accelerate sharply in the coming quarter.
According to the CBI's latest monthly industrial trends survey, the much brighter outlook will see output volumes rising rapidly – the strongest expectations since April last year – with the anticipated pick-up being most marked in the food, drink & tobacco and mechanical engineering sectors.
The survey also showed exports orders to be at their highest level for three months, while total orders are broadly flat. Meanwhile expected price inflation has fallen back to levels last seen midway through last year.
CBI director of economics Stephen Gifford said that the manufacturers taking part in the survey appeared to be more optimistic than official figures and commentary would suggest.
