Manufacturing orders hit new high
19 Sep 2013
UK manufacturing order levels are now at their highest level since the financial crisis, according to business lobby group the CBI.
Following July’s report that new orders had risen for the first time in a year, the CBI today announced that they were now at their highest level in six years.
The body’s quarterly Industrial Trends Survey, published today, questioned 400 manufacturers. It found that 28% of firms reported that total order books were above normal in September and 19% said they were below, giving a balance of 9%, the highest figure since August 2007 (+9%).
Firms are more upbeat… than at any time since 1995
CBI director of economics Stephen Gifford
The survey also found that total orders rose for the fifth consecutive month, while exports orders also grew strongly. Meanwhile, output growth for the three months to September rose to its highest rate since August 2011. Output is expected to rise strongly again over the next three months.
“Order books are the fullest they’ve been since the start of the financial crisis and firms are ramping up production to meet demand,” said CBI director of economics Stephen Gifford.
“Firms are more upbeat about growth prospects in the coming quarter than at any time since 1995.”
With demand building across the UK and globally, the CBI survey also found that stocks have fallen to their lowest level since last November.
