Run of manufacturing growth ends as exports nosedive

Manufacturing - The CBI's industrial trends - SantanderCB

The CBI's industrial trends barometer has revealed that growth in UK manufacturing output has come to a halt for the first since February 2013, with firms reporting higher and lower input in the three months to September cancelling each other out. Lower raw material prices were offset by the impact of a strong pound and weak overseas demand. The CBI said that a net 7% reported shrinking order books, while a net 24% reported falling export orders, the lowest figure for 11 months. Confidence was also at its lowest level for more than a year, although more respondents anticipate a rise in output over the next quarter than expect it to fall. Rain Newton-Smith, director of economics at the CBI, also said that the slowdown in China and its knock-on effect throughout Asia is a growing concern for manufacturers.

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