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Manufacturing pauses for breath in May – CBI

Wednesday, May 23 2018
Manufacturing pauses for breath in May – CBI

Manufacturing output was broadly unchanged in the three months to May and firms reported a further softening in order books, according to the CBI’s latest monthly Industrial Trends Survey. The survey of 411 manufacturers found that the volume of total order books fell to the lowest since November 2016, though orders remained above their long-run average. Export order books held up better, having been broadly unchanged in recent months at a level that is also well above the historical average.

Output was broadly unchanged in the quarter to May, the weakest performance since April 2016, but is expected to rebound over the next three months. Output grew in only 8 of the 17 sub-sectors, with the heaviest drag coming from the chemicals, and food, drink and tobacco, sectors. Stocks were considered to be above adequate levels, in line with the long-run average.

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