Manufacturing strengthened again last month despite poor export orders, according to two leading industry surveys.
The Chartered Institute of Purchasing and Supply’s monthly survey this week reported its fifth consecutive expansion in the manufacturing economy.
Demand for manufactured goods rose strongly again in October, although new orders grew more slowly than in previous months.
The CIPS’s seasonally adjusted index indicated a steady rate of growth for the second month running, up from 54.1 in September to 54.2 in October.
Meanwhile, a survey by the Confederation of British Industry found total orders rose slightly in November, helped by an improvement in domestic demand.
Export orders fell below September’s level, although the decrease was slower than at any time since March 1998.
Sudhir Junankar, the CBI’s associate director of economics, said: `Export orders, although weak, have shown some improvement because of improved conditions in the Euroland economies, which are offsetting the impact of the strong pound.’