British Manufacturers Showing Signs of a Turnaround, CBI Says
British Manufacturers Showing Signs of a Turnaround, CBI Says
(Bloomberg) -- British manufacturers are starting to become more upbeat about the outlook, according to the Confederation of British Industry.
Total and export order books improved to their strongest positions in six months, the CBI said in a report, and exports are now in line with their long-run average. While volumes fell for a fifth rolling quarter, manufacturers expect output volumes to recover in the next three months, and growth predictions improved for a second time in a row.
The report adds to evidence that some easing in political uncertainty after Boris Johnson’s election win is supporting the economy. A survey of manufacturing earlier this month showed the manufacturing sector avoided a contraction for the first time since April at the start of 2020.
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