21 February 2019
UK manufacturing output growth slows
The Confederation of British Industry (CBI) has announced that UK manufacturing output growth slowed in the three months to February 2019. Meanwhile, total and export order books improved slightly, remaining within their respective long-run averages.
After approaching 366 manufacturers, the CBI reported that motor vehicle equipment and mechanical engineering sectors were among the eight out of 17 manufacturing sub sectors that were holding back growth. The remaining nine, including chemicals, food & drink, and tobacco were among the biggest boosts to growth.
The CBI said UK manufacturers were still being supported by the lower level of sterling, however, the possibility of a no-deal Brexit still posed the “the biggest risk” to the sector’s outlook.
Anna Leach, CBI head of economic intelligence, commented: "UK manufacturing activity has moderated at the same time as headwinds from Brexit uncertainty and a weaker global trading environment have grown.
"The time for Brexit compromise to support the UK manufacturing industry is now. The clock is ticking quickly towards crisis point.
"It is of critical importance that politicians of all stripes and on both sides of the channel come to agreement on the terms of a Brexit deal as soon as possible, to allow our manufacturers to continue to create, make and trade their goods with certainty."
“If you’re experiencing any concerns around Brexit, please get in touch with us to see how we can help bolster your business.”