The evidence continues to build that the UK economy has shrugged of the many challenges facing the world to continue trading and growing.
Among the latest data was a survey that showed that manufacturing order books improved on April, and output growth accelerated in the three months to May.
The CBI’s latest Industrial Trends Survey of 432 manufacturers reported that total order books were the highest since February 2015, broadly matching the strong levels seen earlier this year. Export orders also stayed robust, equalling the level seen in March (itself, the highest level seen since December 2013).
Output growth picked up pace, seeing the fastest rise since December 2013. This was underpinned by the mechanical engineering and chemicals sectors. Firms expect another firm rise in production over the coming quarter.
Rain Newton-Smith, CBI Chief Economist, said: “The summer sun has come out early for Britain’s manufacturers. Robust demand at both home and abroad is reflected in strong order books, and output is picking up the pace.
“Boosting productivity is key to alleviating some of the cost pressures that manufacturers are facing. Sustained investment in innovation and education will be vital to shore up the success of British industry.”
In the survey, 26% of manufacturers reported total order books to be above normal, 22% of firms said their export order books were above normal and 41% of businesses said the volume of output over the past three months was up.
We see that confidence reflected among the companies that we help. We believe that digital technology is playing its part to support this continuing growth and our clients are benefitting from the use of IT to develop new projects and improve the efficiency of existing ones.
Bowe Digital offers a range of IT solutions that can help businesses take advantage.
Call us on 0191 214 1750 or email firstname.lastname@example.org to find out how.
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