The latest CBI quarterly Industrial Trends Survey revealed that manufacturing output was stable in the quarter to April, but a drop in orders indicates a looming decline. Despite lower output in several sectors, growth in motor vehicles and transport equipment cushioned the impact. Manufacturers anticipate a drop in orders, with rising costs contributing to a dim outlook. Weak investment intentions and a decline in employment highlight the challenges faced, as political and economic conditions abroad are influencing export orders. Overall, cautious sentiment prevails as manufacturers navigate economic uncertainties.
The recent downturn in manufacturing output appears to have eased, but manufacturers still seem gloomy about their prospects amid rising costs.
Manufacturers expect output to fall marginally in the three months to July due to declining domestic and export orders, first time since 2021.
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