UK manufacturers are feeling the effects of the economic slowdown,
according to the CBI’s May survey of industrial trends.
Export orders are at their weakest for nine months. The
deterioration has more than offset the improvement in domestic orders to
produce the weakest level of total demand for two years.
Only 16 per cent of manufacturers reported total order books
to be above normal conditions with 40 per cent saying they were below.
Export orders have deteriorated from minus 28 per cent in
April to minus 32 per cent.
Output is expected to be broadly stable over the coming four
months but the balance of -2 per cent is the weakest in a monthly survey since