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Manufacturing recovery strengthens, say CBI

Growth in the UK’s manufacturing sector is continuing to pick up, with orders at their highest level since the start of the financial crisis, suggests CBI surveying.

The survey of nearly 400 manufacturers found that total orders rose for the fifth consecutive month, while exports orders also grew strongly.

Meanwhile, output growth for the three months to September rose to its highest rate since August 2011. Output is expected to rise strongly again over the next three months.

Stephen Gifford, CBI director of economics, said: “This month’s results show the manufacturing recovery continuing to gather pace.

“Order books are the fullest they’ve been since the start of the financial crisis, and firms are ramping up production to meet demand.

“Firms are more upbeat about growth prospects in the coming quarter than at any time since 1995.”

Firms expect to increase output at an even faster pace in the next three months: 44% expect to raise output, 11% expect to reduce output, giving a balance of +33%, the strongest expectation since March 1995 (+34%).

This was posted in Bdaily's Members' News section by Tom Keighley .