Strong growth in export orders

Posted on 10 May 2018 and read 359 times
Strong growth in export ordersWhile manufacturing growth slowed over the three months to April, it remained well above the average, according to the latest quarterly CBI Industrial Trends Survey (www.cbi.org.uk); this also revealed that while optimism about general business conditions deteriorated marginally, domestic orders were largely unchanged for the quarter.

In contrast, optimism regarding export prospects for the year ahead continued to improve at an above-average pace, while export order growth accelerated at the fastest pace in more than 20 years — and inventories of raw materials rose at the fastest pace since 1977.

Moreover, manufacturers said they expect to spend more on training and retraining over the next 12 months, adding that they also intend to spend more on product and process innovation.

Efficiency remains the predominant driver of investment, closely followed by replacement of existing capital plant.

Tom Crotty, group director of Ineos and chairman of the CBI Manufacturing Council, said: “While we are seeing a slight softening in the domestic market, UK manufacturers continue to reap the gains from strong global demand.

“This is a good sign that our businesses are competitive on the world stage.”

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