Manufacturers report steady demand

According to the

November Industrial Trends survey, demand for manufactured goods has remained steady but prices are set to rise in the next three months, even as output growth is expected to slacken.

A balance of +8 per cent of firms reported their order book levels were above normal, consistent with the healthy demand for manufactured goods seen over the course of this year. Export demand is also holding up with the balance of -4 per cent on export order books in line with the average since January and still significantly above its long-term average of -22 per cent.

At +21 per cent, the balance of manufacturers forecasting price rises next quarter is the joint-second highest since 1995 and the same figure as recorded in March. It is slightly lower than May's 12-year high of +25 per cent and a return to the climate of strong price pressures that seemed to be abating.