From The Institute of Mechanical Engineering
British manufacturers continued to see new orders grow in the three months to January, but firms expect their export orders to tail-off in the coming quarter, according to the latest CBI Quarterly Industrial Trends Survey.
The survey of 467 firms found that 36% of businesses reported an increase in total new orders, and 17% a decrease, giving a balance of +20%.
The balance for new domestic orders (+15%) was above the long-run average of -5%, with 30% of respondents reporting orders up and 16% down.
Export orders saw a return to growth (+4%) following a fall in the previous quarter (-7%), the survey found.
Numbers employed in manufacturing continued to grow, with 27% of firms reporting employment numbers were up and 15% said they were down, giving a balance of +12%.
Manufacturers’ investment intentions compared to the previous 12 months have increased for plant and machinery (+16%), and those for product and process innovation (+27%), and training/retraining (+32%) remain strong.
