Industrial Trends Survey February monthly 2012
UK manufacturers report a strengthening in demand and expect output to grow
Both domestic and overseas demand have strengthened, underpinning solid expectations for output growth, which is encouraging news- Ian McCafferty
UK manufacturers have reported an encouraging improvement in total and export order books in February, following a much weaker period over late 2011. As a result, firms expect solid output growth over the coming three months.
Ian McCafferty, CBI Chief Economic Adviser, said:
“The improvement in manufacturing conditions seen in January has been sustained this month. Both domestic and overseas demand have strengthened, underpinning solid expectations for output growth, which is encouraging news, given the particularly difficult period for business in the final quarter of 2011.”
"Expectations for output price inflation (+10%) were broadly similar to those in the January survey (+13%). While they remained above the long-run average (+1%), expectations are still well below those over the same period a year ago."