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MANUFACTURING’S STRONG FIRST QUARTER

MANUFACTURING’S STRONG FIRST QUARTER

The Business Desk has recently reported on the UK manufacturing industry’s first quarter. Throughout the first quarter it was found that there was a strong growth in demand from customers. From both overseas, and within the UK.

The latest according to the latest quarterly CBI Industrial Trends Survey of 397 manufacturers. Domestic orders had improved at the fastest pace since July 2014 in the three months to April. Meanwhile export orders recorded the strongest growth in six years. Supported by strong rises in competitiveness, particularly in non-EU markets which improved at a record pace.

CBI Industrial Trends Survey.  The survey of  397 manufacturers within the UK, found that export orders had the strongest growth in 6 years. Domestic orders had also improved. The manufacturers surveyed were anticipating moderately growing figures of new orders, but also predicted a slowdown in domestic demand outweighing export orders growth.

Figures showed 42% of manufacturers reported an increase in their total orders, and 36% said that their volume of output was up in the past three months.

It is believed that the recovering commodity prices, and the weak pound, were the main reasons behind the cost pressures rising.

Overall the expectations for output growth remain solid, and 23% of manufacturers surveyed said that they were more optimistic about their general business situation than they were three months ago.

If you would like to read more on the manufacturing industry’s first quarter, please visit https://goo.gl/9udnTh

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