Manufacturers reported that output growth picked up in the three months to December, according to the latest monthly CBI Industrial Trends Survey.
The survey of 346 manufacturers found that output growth picked up in the three months to December, rising further above the long-run average. Total order books remained firm in December, staying well above their long-run average. Export order books improved noticeably and are now at their strongest since January last year.
Expectations for output price inflation were slightly higher, above the long-run average. However, they remain below the highs seen at the turn of 2018. While UK manufacturers should continue to be supported by firm global economic growth and a low sterling exchange rate, subdued domestic momentum and ongoing Brexit uncertainty will pose headwinds to manufacturing activity.
Tom Crotty, Group Director of INEOS and Chair of the CBI’s Manufacturing Council, said: “It is encouraging to see the resilience of the UK’s manufacturing sector shining through”