Survey finds UK exports are plummeting

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4th November 2015 13:28 - Industrial

The most recent ‘Industrial Trends Survey’ - which was compiled by the CBI - has confirmed that manufacturing in the United Kingdom is slowing Survey finds UK exports are plummetingdown.

The survey revealed that manufacturing production decreased for the first time in two years, during the months to October. As well as this, in the same period, export orders declined at the fastest pace in three years and domestic orders also fell for the first time in two years.

The figures are predicted to spark fears about the damaging effect the slowdown within emerging markets, as well as the strengthening of the pound, will have on Britain’s factories.

Britain was found to have expanded by 0.7 per cent in the second quarter of 2015; however, analysts anticipate that the growth will have slowed down slightly in the third quarter.

The Industrial Trends Survey questioned 463 manufacturers and revealed that 22 per cent of manufacturing companies saw an increase in their new order book. On the other hand, 30 per cent said that they saw a fall in orders.

Of the respondents, one in five said that the amount of orders placed in the United Kingdom had increased.

Of the exporters in the survey, the findings were grim, with just 15 per cent of companies experiencing an increase in orders, in comparison with 33 per cent who saw a decrease. These figures represent the lowest balance since October 2012.

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