UK manufacturing sector output growth and orders both improved according to latest survey results
Manufacturing output volume growth increased during the quarter to November 2018 whilst total order books strengthened and were found to be more robust than the long-run average – according to the CBI’s latest Industrial Trends Survey. For the fuller picture please read the bulletin below which was issued by Insider Media Ltd. today.
Roger Mundy, Managing Director, Beardsley Theobalds, 21st November 2018
Manufacturing orders and output growth on the up - CBI
Manufacturing output growth and orders both picked up in the quarter to November, according to new research by the CBI.
The CBI's latest Industrial Trends Survey found that output volume growth accelerated in the three months to November 2018, outpacing the long-term average. Output expanded in 13 of the 17 sub-sectors, with growth led by the food, drink and tobacco sector.
Manufacturers expect growth to "slow somewhat" over the next quarter.
Total order books strengthened in November after a dip in October, and were more robust than the long-run average.
Export orders improved marginally following a weakening in October, and also remained stronger than the historical average.
Rain Newton-Smith, CBI Chief Economist, said: "It’s encouraging to see an improvement in the manufacturing sector after October’s stark survey, with order books and output growth on the up.
"But the future prosperity of manufacturers depends on getting the Brexit deal right. The overwhelming message from business to the Government is to make progress, don’t go backwards.
"We need frictionless trade for our world-beating manufactured goods and a transition period which draws us back from the cliff edge. Anything less than that and jobs and investment could suffer."