UK manufacturers’ order books are in their best shape for two years, a key survey signals.
And manufacturers signalled a significant rise in overall output volumes over the past three months, in the Confederation of British Industry’s latest survey of the sector.
Of the 471 firms surveyed, 27 per cent reported that their current order books were above normal. Only 19 per cent reported they were worse than usual, with the remainder declaring they were at normal levels.
The balance of eight per cent reporting above-normal order books was the strongest reading since February 2015.
However, the survey signalled that, in spite of sterling weakness, export order books deteriorated slightly.
Only 19 per cent of manufacturers reported export order books were better than usual, with 29 per cent declaring that business from overseas was below normal levels. The balance of 10 per cent reporting below-normal export order books signalled a slightly weaker picture than last month’s survey, in which a net nine per cent reported such a position.
A balance of 16 per cent of manufacturers reported a rise in output volumes over the past three months.
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