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Manufacturing output ''reaches 15-year high''

22 July 2010
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Manufacturing output ''reaches 15-year high''The level of output from UK manufacturers soared to a rounded balance of +24 per cent during the three months to July 2010, its highest rate in 15 years.

This is according to new data published by the Confederation of British Industry (CBI), which showed that both overseas and domestic demand rose during the quarter, pushing up production levels.

In addition, business confidence in the sector improved, with a balance of 10 per cent of respondents more optimistic about the future than three months ago, boosted by better access to credit and finance and stabilising employment levels.

Those concerned with production and inventory control may be particularly interested to learn that enterprises operating in the field increased both their stocks of raw materials and finished goods during the period in question.

CBI''s chief economic adviser Ian McCafferty remarked: "Looking ahead, production is expected to rise further, but at a more moderate rate. In our view the risk of a double-dip recession remains low."

Last month, the UK was placed at number 17 in a list produced by Deloitte of the most dominant nations in the manufacturing sector.ADNFCR-3058-ID-19903244-ADNFCR
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