Manufacturing orders ‘highest since financial crisis’

GROWTH in the UK’s manufacturing sector is continuing to pick up, with orders at their highest level since the start of the financial crisis, a new survey has concluded.
 
The latest CBI monthly Industrial Trends Survey, which questioned 400 manufacturers, found that total orders rose for the fifth consecutive month, while exports orders also grew strongly.
 
Meanwhile, output growth for the three months to September rose to its highest rate since August 2011. Output is expected to rise strongly again over the next three months, said the CBI.
 
With demand building across the UK and globally, stocks have fallen to their lowest level since last November. But inflationary pressures remain muted, with average prices expected to remain relatively steady over the next three months.
 
Stephen Gifford, CBI director of economics, said: “This month’s results show the manufacturing recovery continuing to gather pace. Order books are the fullest they’ve been since the start of the financial crisis, and firms are ramping up production to meet demand. Firms are more upbeat about growth prospects in the coming quarter than at any time since 1995.”