LONDON (dpa-AFX) - UK manufacturing output declined at the joint steepest pace since August 2020 in the three months to May and output is expected fall further over the coming three months, a survey from the Confederation of British Industry showed on Thursday.
A net 25 percent of manufacturers said output declined in the three months to May and at the joint-steepest pace since August 2020, the latest monthly Industrial Trends Survey showed. A balance of 14 percent expects output volumes to fall again in the three months to August.
The order book balance fell to -30 percent in May from -26 percent in April. On the other hand, the export order book balance rose to -29 percent from -41 percent.
'Sentiment among UK manufacturers seems poor, reflecting a combination of rising domestic business costs and US tariff uncertainty,' CBI Lead Economist Ben Jones said.
'Although there are some bright spots, notably aerospace and renewable energy, the sector as a whole is reporting that their order books remain weak, and this is expected to weigh on output volumes through the summer,' added Jones.
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