Britain’s manufacturers managed to nudge up their production in the past three months and they are optimistic that domestic and overseas demand will improve, according to an industry survey.
The business lobby group CBI said its quarterly survey of factory bosses found that more reported a rise in output than a fall in the three months to April, marking the strongest performance since last July for the sector. But while the 472 manufacturers surveyed were upbeat about future demand, the past three months had been tough, with export orders falling again.
Factory output has been hit in recent months by a slowdown in global trade as well as a slump in demand for manufacturers’ wares from the struggling North Sea oil and gas industry. Steel plant closures have added to the woes of the manufacturing sector and thousands of job losses are expected this year.
via The Guardian