Moderate boost to output prospects as order books improve: CBI Industrial Trends Survey
Of the 425 manufacturers responding to the latest monthly Industrial Trends Survey, 28% expect to increase their volume of output over the course of the next three months, while 21% expect it to fall. The resulting balance of +7% is in line with the long-run average (+6%) and follows the expectation last month of a flat period for output (0%).
Total order books saw an improvement from August (balance of -21%), with 19% of firms reporting them as above normal and 28% stating that order levels were below normal this month. The rounded balance of -8% is also well above the long-run average (-17%) and back in line with July’s results (-6%). Likewise, export orders also recovered with a balance of -10%, comfortably above the long-run average of -21%.
Stock levels rose to their highest level since October 2011 (+21%), with a balance of +18% stating that stocks are at least adequate to meet demand, a little above the long-run average (+14%).