British Manufactures Expect Output To Rise: CBI
UK manufacturers expect production to grow at a moderate pace and orders to remain unchanged over the coming quarter, according to the quarterly Industrial Trends Survey data released by the Confederation of British Industry.
In the quarter to October, output volumes rose to -8 percent from -20 percent in September. A net 15 percent expect output to grow in the next quarter.
The total order book balance came in at +3 percent, after falling sharply to -60 percent in July. Overall orders are forecast to remain unchanged in the coming quarter.
In October, the order book balance rose to -34 percent from -48 percent a month ago. The expected level was -45 percent.
The numbers employed in the three months to October fell at a slower pace than in July. A net 27 percent said employment declined in three months to October. Firms expect headcounts to be broadly flat next quarter.
“Manufacturers will also be closely observing progress with Brexit negotiations as the deadline for a deal approaches,” Tom Crotty, Group Director at INEOS and chair of the CBI Manufacturing Council, said.
“Manufacturing jobs, businesses and livelihoods are very much at stake and it is essential that leaders find a way through the current impasse and secure a deal,” Crotty added.
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