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Manufacturers expect rate of decline to ease
UK manufacturing firms expect the decline in activity to ease in the next quarter, according to figures released in the Confederation of British Industry's Industrial Trends survey.
The survey for May reveals that 17% of manufacturers expect their output to increase over the next three months, against 34% that anticipate a drop in activity.
The resulting balance of -17% is up from -32% in April, and takes the measure to the highest level since September 2008.
"After scaling back production very sharply at the beginning of the year, manufacturers can see a glimmer at the end of the tunnel. They still expect manufacturing activity to fall, but at a much slower rate over the next few months," said Ian McCafferty, the chief economic adviser of the CBI.
Post Date: May 20th, 2009
The survey for May reveals that 17% of manufacturers expect their output to increase over the next three months, against 34% that anticipate a drop in activity.
The resulting balance of -17% is up from -32% in April, and takes the measure to the highest level since September 2008.
"After scaling back production very sharply at the beginning of the year, manufacturers can see a glimmer at the end of the tunnel. They still expect manufacturing activity to fall, but at a much slower rate over the next few months," said Ian McCafferty, the chief economic adviser of the CBI.
Post Date: May 20th, 2009
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