According to a new survey conducted by the Confederation of British Industry, Order Books for the UK’s manufacturing sector are at a 30 year high whilst export order books remain at their strongest since the mid-1990s. For the full story please read the bulletin below which was issued by Insider News Media Ltd. today.
Roger Mundy, Managing Director, Beardsley Theobalds, 19th December 2017
Manufacturing order books at 30-year high – CBI
Order books for the UK’s manufacturing sector are at a 30-year high, according to a new survey by the Confederation of British Industry (CBI).
According to the latest monthly CBI Industrial Trends Survey of 371 manufacturers the UK have order books at above normal levels.
The figures are driven by a strong showing from the motor vehicles and transport equipment, and mechanical engineering sectors and 14 out of 17 sub-sectors reported that order books were above normal.
Export order books weakened slightly compared with November’s record levels, but remained strong.
A total of 28 per cent of manufacturers reported total order books to be above normal, and 11 per cent said they were below normal, giving a balance of +17 per cent, the joint highest with last month and August 1988.
According to 42 per cent of the businesses surveyed, the volume of output over the past three months was up while and 11 per cent said it was down.
However, manufacturers expect output growth to slow in the coming quarter, with 26 per cent predicting volumes to increase, and 13 per cent expecting a decline.
Anna Leach, head of economic intelligence at CBI, said: “As we head towards the end of 2017, UK manufacturers’ total order books remain at a near 30 high, with export order books remaining at their strongest since the mid-1990s.
“While the lower level of sterling continues to support exporters, cost pressures remain intense. Businesses will expect to see the Government’s Industrial Strategy make rapid progress next year to support manufacturing and the wider economy in every corner of the UK.”