25 October 2013
The manufacturing sector has seen a 6% rise in total orders in the three months to October 2013, according to CBI’s quarterly Industrial Trends Survey.
Of the 371 manufacturing firms that took part in the survey, 30% of the businesses reported an increase in orders and 24% saw a decrease, leading to an overall positive increase of 6%.
New domestic orders increased by 10%, which is the highest since April 2011, but output orders decreased to 3% from 7% in the three months leading up to July.
Additionally, approximately 32% of businesses say they are more optimistic about the general business situation than three months ago, as opposed to 8% who are less than optimistic. This percentage is at its highest since April 2010.
Stephen Gifford, CBI Director of Economics, said, ‘the manufacturing sector has increasing confidence in the UK’s recovery, with optimism about the general business situation improving to the greatest extent since April 2010.
‘But there are only limited signs of rebalancing towards exports or investment, with marginal growth in export orders and firms scaling back plans for capital expenditure on plant and machinery.’