UK manufacturing industry steadies, survey discovered
24th April 2015 11:46 - Industrial
According to CBI’s most recent Industrial Trends Survey, the manufacturing industry in the UK stabilised in March.
Since last August, output has been increasing at reasonable rate, despite slowing down in previous months. However, March’s figures remained above average.
Of the 468 manufacturing companies surveyed, 32 per cent said that the volume of output over the last three months was up. However, 22 per cent said that it had decreased.
The manufacturers questioned also said that they anticipated a rise in production in the coming three months, with 34 per cent of the companies speculating a growth in output in the next quarter. On the other hand, 12 per cent expect a decline.
The findings showed that total order books fell slightly from February’s six month high. However, the total order books still remained above average, with 15 out of the 18 sub-sectors in the survey claiming to have experienced better than average orders.
On the other hand, export orders weakened notably since February’s six month high and fell below their average.
Director of Economics at the CBI, Rain Newton-Smith, said: “Our manufacturers lost some of their steam from last month, but they continue to move steadily along a decent growth track.
“Sluggish export performance seems to be a headache that won’t go away, with a still subdued Eurozone and headwinds from a stronger pound. But measures in the Budget to support exporters should be a welcome boost for the sector’s longer-term prospects.
“With emerging markets facing a tough time and uncertainty continuing, firms are having to work even harder for opportunities to sell their products and services around the world.”
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