Rain Newton-Smith, CBI Chief Economist, said: “The summer sun has come out early for Britain’s manufacturers. Robust demand at both home and abroad is reflected in strong order books, and output is picking up the pace. On the other side of the coin though, we have mounting cost pressures and expectations for factory-gate price rises are running high. Boosting productivity is key to alleviating some of the cost pressures that manufacturers are facing. Sustained investment in innovation and education will be vital to shore up the success of British industry.”
CBI Industrial Orders Expectations survey showed balance of +9%
According to the latest CBI Industrial Orders Expectations survey 26% of manufacturers reported total order books to be above normal, and 17% said they were below normal, giving a balance of +9%. This was the highest level seen since February 2015 (+10%), and well above the long-run average (-15%).
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