A negative outlook

In-Depth

The CBI's quarterly Industrial Trends Survey has revealed a rapid deterioration in trading in Britain’s manufacturing sector coupled with a sharp drop in demand for products.

The

's Industrial Trends Survey has revealed a rapid deterioration in trading in Britain’s manufacturing sector coupled with a sharp drop in demand for products.

Demand is said to have dropped during the last three months, with 56 per cent of companies reporting a fall in the volume of new orders compared with the previous quarter, and just 14 per cent reporting a rise, giving a balance of -43.

This balance, derived from the difference between the percentage of manufacturers reporting an increase and those reporting a decrease, is the lowest since July 1991.

The rate at which demand fell in the last quarter marks an ongoing downward trend from previous quarters.

In October, the balance for volume of new orders was -30, and in July it was -3.

Ian McCafferty, chief economic adviser at the CBI, said: ‘The survey shows that manufacturing in Britain, as elsewhere, is being hit hard by the economic downturn.

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