Output growth hits two year high says CBI survey
Manufacturers have seen a significant rise in production levels in the three months to August, alongside markedly improved order books, according to the latest CBI monthly Industrial Trends Survey.
The survey records that while firms have seen their positive expectations met on output, they anticipate an even greater upturn in the coming three months, the highest expected output figure since March 2011.
The survey of over 400 manufacturers found that total orders and export order books also rose sharply, with total orders at their highest since August 2011.
Output volumes rose across a significant number of sectors, with 12 of the 16 industry sub-sectors reporting increases, and strong growth reported within some of the smaller sectors – building materials, metal manufacture and electrical goods.
CBI director of economics Stephen Gifford said domestic and export orders had "rebounded almost across the board", but added that "risks in the global economy still mean that it won't be plain-sailing for some time to come".
