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- UK manufacturers reported that output growth picked up in the three months to December, according to the latest monthly CBI Industrial Trends Survey.
UK manufacturers reported that output growth picked up in the three months to December, according to the latest monthly CBI Industrial Trends Survey.
The survey of 346 manufacturers found that output growth picked up in the three months to December, rising further above the long-run average. Output expanded in 15 out of 17 sub-sectors, with growth driven predominantly by the food, drink, & tobacco, mechanical engineering, and chemicals sub-sectors. However, firms expect output growth to slow somewhat over the next three months.
Total order books remained firm in December, staying well above their long-run average. Export order books improved noticeably and are now at their strongest since January this year.
Expectations for output price inflation were slightly higher this month, above the long-run average. However, they remain below the highs seen at the turn of 2018. At the same time, the level of stocks was reported to be broadly adequate, having generally remained at this level since July.
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