U.K. Manufacturing Output Growth Expected To Pick Up: CBI Survey

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Growth in U.K. manufacturing output is expected to pick up slightly over the coming three months, a survey conducted by the Confederation of British Industry showed on Thursday.

According to the Industrial Trends Survey, 25% of manufacturers expect output to rise in the coming three months, while 18% anticipate a fall. The resulting balance of 7% was the strongest figure since March 2008 and compares with a balance of 4% in January. The survey was conducted between January 25 and February 10 covering 548 manufacturers.

A net balance of negative 23% said export order books remained below normal level. Nearly 10% of manufacturers said total order books were above normal, while 46% said they were below normal. The resulting balance of negative 36% was the least negative since December 2008.

"Manufacturing production is slowly recovering as demand for UK-made goods overseas is improving, boosted by the relative weakness of Sterling," Ian McCafferty, CBI Chief Economic Adviser said. However, while exports are providing some welcome support, overall demand remains feeble.

Growth in U.K. manufacturing output is expected to pick up slightly over the coming three months, a survey conducted by the Confederation of British Industry showed on Thursday. (Market News Provided by RTTNews)