Confidence among manufacturers in the UK has risen to the highest point since June 2008, according to the Confederation of British industry's (CBI) latest Industrial Trends Survey.

The survey found that 32% of manufacturers said they expected the volume of output to fall over the next three months, while 27% said it should increase. Although the resulting balance of -5% represents a slight fall in output, it is the least negative prediction since June 2008 (+2%).

"More positively, expectations for manufacturing output over the coming three months are the least negative in over a year. This is partly because many firms have run their stock levels down quite aggressively over the summer, so some manufacturers are now looking to raise production," said Richard Lambert, CBI Director-General.