The CBI’s monthly industrial trends survey revealed persisting positivity in UK manufacturing with orders at their highest level since the start of the financial crisis.
The survey of nearly 400 manufacturers found that total orders rose for the fifth consecutive month. Twenty eight per cent of respondent said that their order books were better than normal for the time of year.
Exports orders also grew strongly with 23% of industrial firms saying that export order were above normal. Accounting for those which said export orders were below normal, this resulted in a positive balance of 6% – the best result since February 2011.
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The output trend across the three months to September was positive too. It rose at its highest rate since August 2011.
Predictions from the CBIs economists and industrial experts for output in the next quarter are optimistic.
Stephen Gifford, CBI Director of Economics, said that another month of positive results show that the UK’s recovery is gathering pace. “Firms are more upbeat about growth prospects in the coming quarter than at any time since 1995,” he commented.