Mood of UK manufacturers brightens

CBI Industrial Trends Survey reveals things are looking up for the UK manufacturing sector.

By News Desk
19th August 2009 at 12:46

CBI Industrial Trends survey show UK manufacturing looking upIt may not have been an easy month for manufacturers, but their outlook for production over the coming quarter is more positive than it has been since last summer, according to data from the Confederation of British Industry (CBI).

The CBI’s Industrial Trends Survey shows 32% of UK manufacturing firms believe their output will fall over the next three months, while 24% say it will increase.

The resulting balance of opinion is the least negative since June 2008.

As others have pointed out, the signs of optimism are fragile.  A balance of 54% of businesses say their order books are below normal.

In addition, in stark contrast to their German counterparts (an economy which has recently escaped recession), export order book levels also look weak.

Richard Lambert, director-general of the CBI says:

Expectations for manufacturing output over the coming three months are the least negative in over a year. This is partly because many firms have run their stock levels down quite aggressively over the summer, so some manufacturers are now looking to raise production.

Most manufacturers are still expecting to lower prices over the coming months in domestic markets.

[Picture credit: sara~ licenced from Flickr]

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