Manufacturing continues to hold its own

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MANUFACTURING orders and expectations are holding up, according to the Confederation of British Industry.

The CBI’s latest Industrial Trends Survey shows pricing pressures have eased, manufacturers are reporting healthy order books and expectations for output growth are above average.

CBI head of fiscal policy, Richard Woolhouse, said: “Manufacturing order books are holding up, and expectations for output growth are above their historical average, although they are less strong than earlier this year. Inflationary pressures have eased, with fewer firms predicting they will have to raise prices at the factory gate over the coming quarter. But the risks to manufacturing activity and business confidence have if anything increased, due to market volatility and the recalibration of growth expectations worldwide.

“Concerns around growth in the US and the Euro area present further challenges to the manufacturing recovery.”