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CBI notes 'encouraging' figures for manufacturing sector

Date Added: 24/02/2012  

The Confederation of British Industry (CBI) has released figures showing manufacturing firms in the UK have reported an encouraging improvement in total and export order books in February.

Research by the body indicated that 21 per cent of respondents said total order books look to be above normal, while 23 per cent said they were below.

It was noted by the CBI that this means the resulting rounded balance of -3 per cent  is well above the long-run average - which is 18 per cent - as well as a significant improvement in the levels of recent months.

Chief economic adviser at the CBI Ian McCafferty stated January's improvement was sustained throughout February, adding: "Both domestic and overseas demand have strengthened, underpinning solid expectations for output growth, which is encouraging news, given the particularly difficult period for business in the final quarter of 2011."

According to figures released by PricewaterhouseCoopers, in the last three months of 2011, 424 manufacturing companies failed.

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Posted by Julie Cutts

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