UK manufacturers expect output growth to ease
The total order book balance came in at 4% in March, above its negative long-run average of -14%. The export order book balance came in at 10.0%.
Manufacturers expect output growth to slow in the coming quarter, with 34% forecasting volumes to increase, and 21% expecting a decline, giving a balance of +13%.
Further, a balance of 24% expect average selling prices to increase in the coming three months.
"Robust global growth and the low pound have gifted UK manufacturers a strong first quarter in 2018," Anna Leach, CBI Head of Economic Intelligence, said.
"Although total order books and output growth slipped relative to February, demand and output growth remain well ahead of long-run averages." ■