UK Manufacturers Report Improving Trends In August, Says CBI

(Alliance News) - UK manufacturing output steadied in the three months to August, the latest ...

Alliance News 20 August, 2019 | 11:12AM
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(Alliance News) - UK manufacturing output steadied in the three months to August, the latest Confederation of British Industry's Industrial Trends Survey showed on Tuesday.

The CBI said 15% of manufacturers reported total order books to be above normal, while 28% said they were below normal, giving a balance of minus 13%. Though in negative territory, this was, nonetheless, an improvement on the minus 34% recorded in July.

Further, 24% of businesses said the volume of output over the past three months was up, and 27% said it was down, giving a balance of minus 3%, versus minus 11% in July.

Manufacturers expect output to remain broadly unchanged in the coming quarter, with 24% predicting growth and 25% a decline, giving a balance of minus 1%.

"Despite signs of stabilisation in the data this month, UK manufactures 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 US only exacerbate the demand uncertainty facing UK manufacturers," said CBI deputy chief economist Anna Leach.

By Lucy Heming;

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