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Upturn in UK manufacturing continues

23 April 2010
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Upturn in UK manufacturing continuesThe UK''s manufacturing industry is continuing to demonstrate signs of recovery from the recession, new figures indicate.

According to the latest data from the Confederation of British Industry (CBI), exports witnessed a further rise over the last quarter with firms reporting a balance of +20 in new orders, the highest level since July 1995.

In addition, the first growth was seen during the three months to April in domestic orders for two-and-a-half years, as demand at home and overseas for goods produced in the UK increases.

Overall, the quarterly Industrial Trends Survey of 439 businesses showed a balance of +12 per cent in rising orders, with 34 per cent of respondents reporting a jump in volume during the period in question.

However, the CBI has warned profit margins are being squeezed by rising inflation and costs, although strong growth is predicted in orders over the current quarter by companies and manufacturing production is forecast to increase.

"With demand expected to strengthen further and stocks running low, UK firms are planning to step up production in the next quarter," CBI chief economic adviser Ian McCafferty remarked.

The CBI figures support a recent report from the Office for National Statistics showing the UK''s index of manufacturing expanded by 1.4 per cent year-on-year in February 2010, with output up over the month in eight out ten sub-sectors.ADNFCR-3058-ID-19738355-ADNFCR
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