UK Manufacturers Expect Output To Fall: CBI

(RTTNews) - UK manufacturers expect production volumes to decline again in the coming three months, the Industrial Trends survey results from the Confederation of British Industry showed on Thursday.

A net 30 percent of manufacturers said output volumes declined in the three months to November compared to -16 percent in the quarter to October. This was the biggest fall since the three months to August 2020.

Similarly, a net 30 percent of manufacturers said production volumes will fall again in the three months to February.

The order book balance was largely unchanged from the previous period and remained below "normal". The total order books posted -37 percent, up from -38 percent in October. The export order books improved to -31 percent in November from -46 percent in October.

Expectations for average selling price inflation eased in November. The corresponding balance fell to +7 percent from +16 percent in October.

CBI Lead Economist Ben Jones said, "Manufacturers face a challenging end to the year."

"What's striking in this month's survey is how consistently firms link the slowdown to uncertainty ahead of the Budget, with customers delaying purchases and investment until they know what's coming," Jones added.