The latest national CBI Industrial Trends Survey shows expectations for growth standing at a two-decade high
The survey of 423 firms found that export order books were the highest since December 2013, driven by a broad-based strengthening of which half was accounted for by the pharmaceutical and mechanical engineering sectors. Total order books remained firm in March, after strengthening to a two-year high in February.
Output growth rose at its quickest pace since July 2014 in the three months to March, with manufacturers anticipating that it will accelerate further over the near-term. Meanwhile, firms’ expectations for selling price inflation remain elevated for the quarter ahead.
Anna Leach, CBI Head of Economic Intelligence, said: “Innovation continues to be a fundamental driver of UK competitiveness and productivity gains and will influence the success of UK companies over the longer term.”
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