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UK manufacturers ''review business plans as confidence dips''

1 August 2011
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UK manufacturers ''review business plans as confidence dips''A dip in confidence among the UK's manufacturing companies has led to many reassessing their business plans.

This is the claim made by the Confederation of British Industry (CBI) in a new report on the sector, which suggests businesses are forecasting slower activity in the sector over the coming months.

According to the organisation, optimism among manufacturers dipped over the quarter to July for the first time in two years and investment plans have been scaled back by some firms as a result, operations management professionals may be interested to learn.

The three-month period saw a contraction of growth in total orders and production volumes, with minus 16 per cent of companies stating they were less optimistic than over the previous quarter.

Commenting on the figures, CBI chief economic adviser Ian McCafferty stated: "How far the slowdown will be borne out is yet unclear, but the combination of political and economic uncertainty is sapping confidence."

The CBI Industrial Trends Survey is backed by recent statistics from the EEF indicating there was a dip in average pay settlements in manufacturing during the three months to June 2011.ADNFCR-3058-ID-800638710-ADNFCR
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