Britain’s beleaguered manufacturing sector is continuing to strengthen – with orders at their highest level since the start of the financial crisis, according to the latest Confederation of British Industry (CBI) monthly industrial trends survey.
Total orders climbed for the fifth consecutive month and export orders were expected to grow strongly, concluded the survey of nearly 400 manufacturers.
The growth in output for the three months to September reached its highest rate since August 2011. Further growth was predicted over the next three months.
Stephen Gifford, CBI director of economics, said the survey showed the manufacturing recovery was continuing to gather pace.
“Order books are the fullest they’ve been since the start of the financial crisis, and firms are ramping up production to meet demand,” said Gifford. “Firms are more upbeat about growth prospects in the coming quarter than at any time since 1995.”
UK and global demand is building, while stocks have fallen to their lowest level since last November. Inflationary pressures remain muted, with average prices expected to remain steady over the next three months, said the CBI.