UK Manufacturing Output & Orders Decline: CBI

(RTTNews) - UK manufacturers reported that output volumes and orders declined in the three months to February, the latest Industrial Trends Survey from the Confederation of British Industry showed on Thursday.

The output volume balance rose to -14 percent in the three months to February from -25 percent in January. A net 12 percent expects output volumes to fall again in the three months to May.

At the same time, the order book balance improved to -28 percent from -30 percent in January and the net export order books rose to -26 percent from -30 percent.

A net 26 percent of manufacturers expect average selling price inflation to rise in the three months to February compared to -29 percent in January.

"The downturn in manufacturing output eased in February, after a downbeat period around the turn of the year," CBI Senior Economist Cameron Martin said.

"However, many firms continue to report customers holding back amid low confidence and elevated cost pressures," Martin added.