Manufacturing order books were close to a 30 year high in the three months to December, according to the latest monthly CBI Industrial Trends Survey. The numbers are awesome:
- 28% of manufacturers reported total order books to be above normal, at the +17% level last seen in August 1988.
- 28% of firms said their export order books were above normal at +16%, well above the long-run average of -18%
- 42% of businesses said the volume of output over the past three months was up, and 11% said it was down, giving a rounded balance of +30% above the long-run average of +4%
- 29% of companies expect average selling prices to increase in the coming three months, with 6% predicting a decline, giving a balance of +23%
In addition the CBI’s Employment Trends Survey of 299 firms employing around 1 million people found that 51% of firms across the UK will grow their workforce in the year ahead, with confidence highest amongst small and mid-sized firms (58%). The majority (52%) of firms aim to raise pay for their employees in line with or above inflation in the coming year. Despite the gloomy predictions in the remainstream media, businesses are doing reasonably well and expect to carry on doing well…