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Manufacturers expect production growth, survey shows

24 August 2011
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Manufacturers expect production growth, survey showsManufacturers' expectations of output growth are improving despite the volatility of the market, research has shown.

A balance of 13 per cent of firms surveyed by the Confederation of British Industry (CBI) predicted production would rise over the next quarter - seven percentage points higher than the long-term average.

However, Richard Woolhouse, head of fiscal policy at the CBI, noted the sentiment is not as strong as it was earlier in the year.

"The risks to manufacturing activity and business confidence have, if anything, increased, due to market volatility and the recalibration of growth expectations worldwide," he said.

An easing of inflationary pressure was one of the factors cited as contributing to improved expectations, with fewer firms predicting a need to increase their prices.

However, research by KPMG and the Chartered Institute of Personnel and Development earlier this month revealed confidence among manufacturers had fallen, with hiring intentions reflecting this.
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