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CBI industrial trends survey

dodano: 22 marca 2016 przez amberfashion


 Rain Newton-Smith of the CBI said: ‘While the budget included several policies that should drive growth, the absence of further measures … was a missed opportunity.’

  Britain’s manufacturing sector remains mired in recession following months of weak demand from foreign customers and depressed demand at home.

  The CBI industrial trends survey found that factory output fell over the three months to March at the fastest pace since September 2009, marking a steep decline in the sector dating back to last summer.

  The depressed state of manufacturing comes after the turmoil that hit the steel industry last year, which triggered factory closures and layoffs across north-east England and Wales.

  Last month it was the turn of food and drink manufacturers, according to the survey, despite a fall in the pound that economists expect to drive higher exports by the sector.

  The CBI said production is expected to rebound over the next three months, but argued the risks of further stagnation meant the chancellor should have done more in the budget to support manufacturers.

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  Larry Elliott

Larry Elliott

  Read moreRain Newton-Smith, the CBI’s director of economics, said: “While the budget included several policies that should drive growth, the absence of further measures to support innovation, and research and development, was a missed opportunity to boost investment. The government’s upcoming National Innovation Plan needs to address this vital issue.”

  Month-on-month figures showed a slight improvement in activity, chiming withofficial data that shows a recent upturn in manufacturing output. The total orders balance improve to a three-month high of -14% in March after falling back to a four-month low of -17% in February from -15% in January and -7% in December.

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  About this contentThe survey of 471 manufacturers found that eight of the 18 manufacturing sub-sectors posted a decline in output. Two thirds of this decline, it said “reflected weakness in the food and drink sector, with localised flooding and mild weather potentially having hit production”.

  However, analysts said an upswing in activity was unlikely during uncertainty around global trade and Brexit fears.

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  Samuel Tombs, chief UK economist at Pantheon Macroeconomics, said: “Manufacturers will continue to struggle this year amid weak overseas demand and slowing growth in consumers’ real income this year, as inflation revives and the fiscal squeeze intensifies.”

  Howard Archer, chief UK economist at IHS Global Insight, said: “While the recent overall marked weakening of the pound and still low oil and commodity prices are welcome news for UK manufacturers, they will be concerned by current ongoing muted global economic activity and an uncertain outlook.”




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