Manufacturing order books at 30-year high - CBI

Marco Green
December 19, 2017

British companies remained optimistic about the ability to generate jobs in the short-term, an annual survey published by the Confederation of British Industry showed Tuesday.

The figures are driven by a strong showing from the motor vehicles and transport equipment, and mechanical engineering sectors and 14 out of 17 sub-sectors reported that order books were above normal.

Britain's factories are benefitting from an export boom as the weak pound and demand from the strong eurozone economies leave manufacturers with the biggest order books since 1988.

Anna Leach, CBI Head of Economic Intelligence, said "as we head towards the end of 2017, United Kingdom manufacturers' total order books remain at a near 30 year high, with export order books remaining at their strongest since the mid-1990s".

Fewer than one in three said they would be able to absorb the costs of increases in the national living wage, with one in five planning to increase prices or restructure their business.

However, respondents still expect output growth to moderate over the next quarter.

Anna Leach, head of economic intelligence at CBI, said: "As we head towards the end of 2017, United Kingdom manufacturers' total order books remain at a near 30 high, with export order books remaining at their strongest since the mid-1990s".

"But with softening economic growth matched with high employment, the survey again emphasises the vital need to make progress on the industrial strategy and secure a good Brexit deal to improve productivity, support job creation and boost pay growth".

Other reports by Click Lancashire

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