Manufacturing output stable says CBI

Posted on 05 Sep 2019 and read 646 times
Manufacturing output stable says CBIManufacturing output stabilised in the three months to August, following a drop in July, according to the latest monthly CBI Industrial Trends Survey.

The survey of 286 manufacturing firms revealed that both total order books and export order books were reported as below normal, but to a lesser extent than in July.

Output volumes expanded in seven of 17 sub-sectors in the quarter to August, with the chemicals, mechanical engineering and plastic products sub-sectors driving the positive contributions to growth.

Meanwhile, the paper, printing and media sub-sectors acted as the primary drag on growth. Respondents expect output volumes to remain unchanged over the next three months, and manufacturers say they expect to keep output prices broadly unchanged.

Anna Leach, CBI deputy chief economist (, said: “Despite signs of stabilisation in the data this month, UK manufacturers remain on the receiving end of ‘a double whammy’: the slowdown in the global economy and Brexit uncertainty.

“Trade tensions between nations such as China and the USA only exacerbate the demand uncertainty facing UK manufacturers.”

Meanwhile, official data showed that the economy contracted slightly in the second quarter of the year, as the drive to build stocks ahead of the spring Brexit deadline unwound and car companies adjusted their annual factory shutdowns.

Early indications of growth for the third quarter are subdued, with underlying momentum weak.

At the same time, global growth is expected to slow, as trade tensions continue to erode world trade flows.

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