CBI survey shows healthy manufacturing order books

Of the 432 manufacturers responding to the CBI’s latest monthly Industrial Trends Survey, 22 per cent described total order books as above normal, while 24 per cent said they were below normal. The balance of -2 per cent is said to be well above the long-term average and an improvement on the previous month’s balance of -11 per cent.

In a statement, the CBI said the volume of export order books also picked up in May with 19 per cent of firms saying they were above normal and 22 per cent below normal.

The -3 per cent balance is above the long-term average and consistent with a trend of improvement that has been evident over the past two years.

With demand improving, manufacturers predict robust output growth in line with previous months; a balance of +20 per cent of firms expect output to rise in the next three months, compared with +22 per cent in April.