UK’s manufacturing remains stable, survey

UK’s manufacturing remains stable, surveyAccording to a new survey, the total manufacturing output in the UK has remained flat even as forecasts had predicted a strong growth in the total output.

A survey conducted by the Confederation of British Industry showed that the manufacturing output largely remained flat during the previous three months. The survey involved more than 400 manufacturers and was conducted between May 22 and June 12. About 26 per cent of the firms surveyed said that they have recorded a rise in output while 24 per cent recorded a fall in output.

The survey also showed that about 27 per cent of the respondents said that the output is expected to rise in the coming three months and 17 per cent expect the output to fall in the coming three months. The remaining firms said that the output is expected to remain unchanged. The net 10 per cent of the respondents predicting a rise in lower than 22 per cent, 23 per cent, and 18 per cent in the same survey in March, April, and May.

Stephen Gifford, CBI director of economics, said, "Manufacturers are treading water with domestic and export orders stagnant. Production levels remain flat, but firms predict a modest pick-up over the coming three months. While an expected improvement in conditions at home and abroad should lead to better prospects for manufacturers, the business climate still remains quite fragile."