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Survey reveals promising future for manufacturing

Feb 17 2011

Manufacturers’ expectations for output growth have strengthened

Improving demand for UK-made goods has boosted manufacturers’ expectations for output growth, according to the Confederation of British Industry (CBI).

Responding to the latest Industrial Trends Survey, 28 per cent of manufacturers say that export orders are above normal, and 17 per cent say they are below. The resulting net balance of +11 per cent is the highest since July 1995.

In line with improving demand, manufacturers’ expectations for output growth have strengthened, with 37 per cent predicting an increase, while 14 per cent expect a fall, giving a balance of +23 per cent.

CBI economic adviser Ian McCafferty says, ‘With expectations for output growth at their strongest since before the recession, the recovery in the manufacturing sector remains well on track, and the sector should continue to make an important contribution to broader economic growth.’

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