CBI reports bumper order books

CBI

Manufacturing order books were close to a 30 year high in the three months to December, according to December’s monthly CBI Industrial Trends Survey.

In the survey of 371 manufacturers, strong order books were driven by motor vehicles and transport equipment, and mechanical engineering sectors, with 14 out of 17 sub-sectors reporting that order books were above normal. Export order books weakened slightly compared with November’s record levels, but remained strong.

Output growth was brisk in the three months to December, at a rate far above the long-run average.

Respondents expect output growth to moderate over the next quarter.

Manufacturers expect output prices to rise at the fastest rate since June in the quarter ahead, while stock adequacy deteriorated to below its long-run average.