UK output volumes fall, near-term industrial outlook improves: CBI

Output decreased in 14 out of 17 sub-sectors in the three months to November.

But the near-term picture is more positive, with manufacturers expecting output volumes to rise modestly in the quarter to February.

Total order books improved relative to last month (minus 19 per cent from minus 27 per cent), while volumes of export order books were unchanged. Both total and export order books were reported as below their long-run averages.

Expectations for selling price inflation picked up in November (plus 11 per cent from 0 per cent in October), with prices expected to rise at a rate that is broadly in line with the long-run average.

Stocks of finished goods were seen as more than adequate in November (plus 21 per cent from plus 17 per cent in October), with the balance the highest since August 2020.

Fibre2Fashion News Desk (DS)