CBI Survey: Everything is Awesome for Manufacturing

The ONS Q2 fall in manufacturing is due to a significant drop in the manufacture of cars. Elsewhere it’s a different picture if you read the new CBI Quarterly Trends survey, a long-standing survey of 397 blue-chip manufacturers which shows the state of Britain PLC. This quarter is astounding when you remember the predictions of economic disaster rolled out by George Osborne last year. The numbers are awesome:

  • 32% of manufacturers said employee numbers with headcount increasing at the fastest rate for three years and hiring intentions for the coming quarter also improved.
  • Expectations for growth in export orders improved to a four-decade high.
  • Export optimism is strong, 43% of firms said the volume of output over the past three months was up – the highest since January 1995.
  • 35% of businesses reported an increase in total orders.
  • Domestic orders were up +19%, with export orders growth remaining strong at +17%.
  • Alongside robust expectations for demand, firms accumulated raw materials at the fastest pace in forty years and stocks of work-in-progress expanded at a record rate. Strong confidence levels saw stock building of raw materials (+20%) which was the strongest since April 1977 (+22%), whilst stocks of work-in-progress rose (+16%).

By any measure these are good numbers, in the context of Osborne’s predictions for an immediate economic collapse, job losses, a collapse of business confidence and investment, these numbers are awesome. Reading the FT you’d never know it…




Tip offs: 0709 284 0531
team@Order-order.com

Quote of the Day

Former public schoolboy Chuka Umunna told the  ‘Exit From Brexit Dinner’…

“Remainians, Remoaners, I don’t care what the label is, I’m proud. It’s fashionable to label everyone in this room as the liberal metropolitan elite . . . This caricature is promoted by a bunch of former public schoolboys!” 

Sponsors

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.
Dover Traffic at Record Levels Dover Traffic at Record Levels
Khan’s ‘Independent’ Brexit Study Written by Leave-Bashers And Corbynistas Khan’s ‘Independent’ Brexit Study Written by Leave-Bashers And Corbynistas
EU Propaganda Service Chooses Soubry’s Constituency For New Base EU Propaganda Service Chooses Soubry’s Constituency For New Base
#DespiteBrexit Double Whammy #DespiteBrexit Double Whammy
Blair Lies About NHS Brexodus Blair Lies About NHS Brexodus
U-Strip: Meet UKIP Leader’s New Girlfriend U-Strip: Meet UKIP Leader’s New Girlfriend
LISTEN: Blair Doesn’t Rule Out Third Referendum LISTEN: Blair Doesn’t Rule Out Third Referendum
Priti Asks Electoral Commission to Investigate Remain Campaign Priti Asks Electoral Commission to Investigate Remain Campaign
2017: The Year the Experts Were Confounded 2017: The Year the Experts Were Confounded
10 Bonkers Things Adonis Said About Brexit 10 Bonkers Things Adonis Said About Brexit
Barmy Adonis: Farage is PM Barmy Adonis: Farage is PM
Remain Campaigns Coordinated Spending Remain Campaigns Coordinated Spending
Remain Donors Funnelled £1 Million to New Campaigns Set Up in Weeks Before Referendum Remain Donors Funnelled £1 Million to New Campaigns Set Up in Weeks Before Referendum
Remain Groups Shared Data, Suppliers and Campaign Materials Remain Groups Shared Data, Suppliers and Campaign Materials
Remain Campaign Flouted Rules to Spend Double Legal Limit Remain Campaign Flouted Rules to Spend Double Legal Limit
UK Best Country for Business #DespiteBrexit UK Best Country for Business #DespiteBrexit
Report: No Significant Russian Activity in Referendum Report: No Significant Russian Activity in Referendum
LibDems and Open Britain Fined For Referendum Spending Breaches LibDems and Open Britain Fined For Referendum Spending Breaches
UnFacts: Pro-Remain “Fact-Based” Website Keeps Getting It Wrong UnFacts: Pro-Remain “Fact-Based” Website Keeps Getting It Wrong
Remainers Hire Millionaire Former Lobbyist, Economist Journalist and Friend of Bono Remainers Hire Millionaire Former Lobbyist, Economist Journalist and Friend of Bono