The outlook for British manufacturing next year has darkened, with output and new orders deteriorating at rates not seen since 2009, according to an industry survey on Monday that warned of slowing growth both at home and abroad.
Manufacturing organisation EEF said its quarterly balances for new orders and output fell to their lowest levels since the third quarter of 2009, when Britain’s economy had just exited its deepest recession in over 70 years.
Britain had the fastest-growing major world economy last year and is likely to be at the head of the pack again this year. But it has relied heavily on domestically focused services for growth, frustrating hopes for a more export-led recovery.
The EEF survey, which is sponsored by law firm DLA Piper, raised scant hope of a manufacturing recovery in 2016, after the sector failed to contribute to British economic growth in the first three quarters of this year.