UK manufacturers secure optimistic August figures

Lincat’s 100,000ft2 manufacturing facility in Lincoln.Lincat’s 100,000ft2 manufacturing facility in Lincoln.

Manufacturing firms have managed to secure healthy figures through August, according to CBI’s latest monthly Industrial Trends Survey.

The survey of 432 manufacturers, found that total order books and export order books were positive in August.

Output growth remained strong and broad based and is expected to remain so over the next quarter.

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According to the report, 30% of manufacturers’ total order books were above average, and 17% said they were below normal, giving a balance of 13% above the long-run average of -14%.

Stocks were considered to be just above adequate levels, after dipping below in July, but remained below the long-run average.

Anna Leach, CBI head of economic intelligence, said: “There are further signs that exporters are feeling the benefit from the lower pound in this month’s figures, and output growth is expected to power on over the coming quarter.

“But after a brief pause last month, expectations for selling prices have rebounded, indicating that the squeeze on consumers is set to persist. We expect CPI (Consumer Price Index) to top out at around 3% towards the end of this year and remain close to that level during 2018, as the effect of the weak pound continues to feed through.”

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