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Manufacturing sector orders ''to pick up''

22 October 2010
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Manufacturing sector orders ''to pick up''The UK's manufacturing industry has seen a decline in growth during the past quarter, but this slide is unlikely to continue, it has been forecast.

According to the Confederation of British Industry (CBI), the sector saw total orders dip during the three months to October, with the number of firms reporting that they had fallen below normal sliding from 16 per cent in July to 28 per cent.

However, the poll of 420 businesses carried out by the CBI for the three months to October indicated that firms expect output to increase during the coming quarter.

Individuals involved in production and inventory control may be interested to learn that manufacturers are predicting growth in export orders, with 32 per cent expecting activity to increase compared with 14 per cent anticipating a fall.

The balance of firms forecasting a rise rather than a drop was plus 18 per cent, compared with plus nine per cent for the previous quarter, while employment and investment trends also rose.

CBI chief economic adviser Ian McCafferty stated: "The recovery in the manufacturing sector is well grounded and looks set to continue, despite a soft patch last quarter."

In its response to the government's spending review of public sector finances, the CBI has welcomed it as painful but necessary to balance the UK's economy. ADNFCR-3058-ID-800138003-ADNFCR
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