Demand for UK-manufactured goods strengthened in the three months to February, with order books improving, according to the CBI’s latest Industrial Trends Survey.
The survey of 471 firms found that total orders reached a two-year high, with the strengthening in demand led by the mechanical engineering and metal products sectors. Export orders remained stable and above the long-run average.
27% of businesses reported total orders to be above normal and 19% said orders were below normal, giving a balance of +8%, the highest since February 2015 (+10%)
19% of businesses reported export orders to be above normal and 29% below, resulting in a balance of -10%
35% of businesses reported a rise in output volumes, and 20% a fall, giving a rounded balance of +16%
Output growth is expected to grow faster over the next three months, with 43% of companies expecting a rise and 10% expecting a fall, leaving a balance of +33%, the highest since September 2013 (+33%)
We like to think that we are playing our part. Bowe Digital offers a range of IT solutions that can help manufacturing companies streamline their operations to run smartly, efficiently, and grow.
· Call us on 0191 214 1750 or email firstname.lastname@example.org to find out how.
· Bowe Digital – we make I.T. happen
The UK economy expanded by 0.6% in the final quarter of 2016, according to the Office for National Statistics with an increase in output from manufacturing and construction.
Welcoming the statistics, Rain Newton-Smith, CBI Chief Economist, said: “These figures confirm that the economy remained resilient in the wake of the EU referendum, growing 2.0% in 2016.”
Services remain the key driver of growth and a recovery in manufacturing also provided some support.
We welcome the figures as well and believe that digital technology is playing its part to support this growing confidence. IT can help manufacturing companies to take advantage of opportunities by making their processes more efficient.
Call us on 0191 214 1750 or email email@example.com to find out how.
Bowe Digital – we make I.T. happen