Manufacturing output growth slows but remains strong, CBI survey shows

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Wednesday, Mar 21 2018

Manufacturing output growth slows but remains strong, CBI survey shows

Manufacturing order books weakened in the three months to March, but remained well above their long-run average, according to the latest monthly CBI Industrial Trends Survey. 29% of manufacturers reported total order books to be above normal, and 25% said they were below normal, giving a balance of +4% - above the negative long-run average of -14%. Anna Leach, CBI Head of Economic Intelligence, said: “Robust global growth and the low pound have gifted UK manufacturers a strong first quarter in 2018. Although total order books and output growth slipped relative to February, demand and output growth remain well ahead of long-run averages.

“Confidence among manufacturers will have been given an additional boost by the agreement of a transition deal, giving them the confidence to continue investing and planning for growth. Other hurdles on the Brexit path need to be cleared in the same spirit – this includes a speedy agreement of a mutually beneficial trade deal for both the UK and the EU, with a customs union one of the options on the table.”

More in this category: « UK Unemployment Rate fell to 4.3% Existing Home Sales grew by 3.0% »

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