London, Monday, 25 July 2022
The CBI's quarterly indicator of manufacturing confidence in the UK increased from -34 in the previous three months to -21 in the third quarter of 2022, although it remained in negative territory for the third quarter in a row.
After a period of unusually rapid development over the prior year, growth in manufacturing output and orders slowed in the quarter to July, returning to more regular rates of expansion.
Despite growth slowing from recent peaks, average costs and prices rose considerably.
Though less fast than anticipated in the previous quarter, overall investment intentions improved, and employment in the industry continued to grow at a strong rate (for the third quarter running).
Although they are no longer at all-time highs, worries about labour and component shortages are still quite serious.
(Source: Confederation of British Industry // Reporting by: The Decision Maker – Technology editors)