Slowdown

In-Depth

A new survey shows that output and orders in the UK fell back over the last three months, with growth at its slowest pace since Q4 2003.

A new survey published by

- the manufacturers organisation - together with RSM Robson Rhodes, shows that output and orders in the

fell back over the last three months, with growth at its slowest pace since Q4 2003.

This is line with the forward-looking trends from the previous survey which showed a marked drop in confidence. Export orders outpaced domestic orders, continuing the trend of the last two years.

In addition, whilst manufacturing continues to see some growth, rising costs and competitive pressures are hindering attempts to rebuild margins. As a result, investment intentions remain subdued and have weakened a little in the last three months.

By sector the picture was mixed, with transport equipment and metal products recording falls in output and aerospace being especially weak. The picture for other sectors remained positive with the balances weaker than in the last quarter but higher than the average for the last two years .

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