Sentiment within the UK manufacturing industry improved in April and output expectations were the strongest for six months, according to the CBI’s latest quarterly Industrial Trends Survey.
The UK manufacturing industry has reported output volumes fell in the three months to February, and at a faster pace than in the three months to January, according to the CBI’s latest Industrial Trends Survey.
After prime minister Rishi Sunak scrapped the rest of the HS2 rail project in England due to spiralling costs, Make UK and the CBI have responded with their comments.
Sentiment among SMEs in the UK manufacturing industry was stable for a second successive quarter in July, though this represents a relative improvement compared with the sharp declines seen 2022 and in early 2023.
Business confidence among SME manufacturers stabilised in the quarter to April, according to the CBI’s latest SME Trends survey, ending a run of five consecutive quarters of declining sentiment.
In a report published today, the CBI has called on the chancellor to back the UK’s manufacturing sector by addressing the business rates cliff edge and extending the Industrial Energy Transformation Fund beyond 2025 in his Autumn Statement.
Growth in manufacturing output and orders eased in the quarter to July, slowing to more typical rates of expansion following a period of exceptionally strong growth over the previous year.