Manufacturing output growth remains robust

Posted on 08 Mar 2018 and read 250 times
Manufacturing output growth  remains robustManufacturing order books and export order books remained well above their ‘long run’ averages in the three months to February, despite weakening somewhat, according to the latest monthly CBI ( Industrial Trends Survey.

This said that growth was broad-based, with output growing in 16 out of 17 sub-sectors and with growth predominantly driven by food, drink and tobacco, as well as the motor vehicle and transport equipment sub-sectors.

Those surveyed expect output growth to slow a little over the next three months, broadly matching the pace seen in September and October last year.

Meanwhile, expectations for output price inflation weakened from January’s 34-year high but remain above the historical average; stocks were considered to be above adequate levels but below the long-run average.

Tom Crotty, group director of Ineos (the privately owned multi-national chemicals company) and chairman of the CBI Manufacturing Council, said: “Manufacturers are benefitting from the health of the global market-place, but companies are still struggling to find the workers they need to grow their business.

“To ensure there is a strong pipeline of people with the necessary technical skills, we need young people to receive further education and careers advice built upon the needs of employers.”

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