LONDON (MNI) – The strong recovery in UK manufacturing remained on
track over the latest three months, according to the Confederation of
British Industry’s latest industrial trends survey.
However, survey readings for this month revealed a sharp drop in
both total orders, export orders and output volumes.
Total orders in April fell to a balance of -11 from +5 in March.
The survey also showed output volumes falling in April to a balance of
+22 from +27 in March.
The quarterly survey, however, showed business optimism rising
slightly to a balance of +9 compared with +7 in January, while domestic
expected average prices rose to a balance of +36 from +31 in January,
its highest reading since January 1990.
The quarterly reading on April total orders climbed to +20 compared
with +18 in January, its highest reading since April 1995.
CBI Director General John Cridland said that the “manufacturing
recovery remains firmly on track. Strong demand at home and abroad and
rapid restocking over the past quarter have led to another solid rise in
production, with growth expected to continue over the next quarter”.
But Cridland added that “production costs have jumped markedly
during the last 3 months, rocketing ahead after a full year of already
rapid cost inflation”.
–London bureau: 44 20 7862 7492; email: dthomas@marketnews.com
[TOPICS: M$B$$$,M$BDS$,MT$$$$,MABDS$]
