London, MNI – UK manufacturing business optimism has surged in
comparison to the start of the year, the CBI’s April quarterly survey
showed.
While April’s monthly data showed no change in orders and output
from March, the quarterly data highlight how much the outlook has
improved since the start of 2012.
The April quarterly business optimism reading surged to a net 22%
from -25% in January, while export optimism rose to 29 from -20.
The initial estimate of first quarter GDP issued earlier Wednesday
showed manufacturing output fell 0.2% on the quarter and industrial
production fell 0.4% on the quarter.
Nevertheless, manufacturers are upbeat about the outlook.
Ian McCafferty, the CBI chief economic adviser, said “With the
acute fears over Europe and global demand subsiding somewhat since the
start of 2012 sentiment about the general business situation has risen
among manufacturers for the first time in a year”.
“Firms have seen manufacturing and production picking up in the
three months to April, and with expectations of a further strengthening
in activity in the coming quarter, they are increasing their
stockbuilding and investment plans,” McCafferty added.
The April monthly data showed the manufacturing orders balance
unchange at -8 compared to March, with output volumes also unchanged on
the month at 24.
— London newsroom: 207 862 7491; e-mail: wwilkes@marketnews.com
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