UK manufacturing activity picked up in February
22 Feb 2013
Confederation of British Industry (CBI)'s industrial trends survey showed that manufacturing activity picked up in February, slowing its decline to minus (-)14 from January's reading of (-)20
The number represents the balance of positive and negative responses from 436 manufacturers polled by the industry body, The Telegraph newspaper reported.
The balance received a boost from stronger export orders, although according to the CBI only 5 per cent of business reported orders that were considered above normal, newspaper said.
Sentiment among manufactures remained negative with fewer manufacturers looking to an improvement in conditions in the next three months. Expectations for output fell to +5, from +8 in January, with the most of the positive sentiment coming from the motor vehicle and food, drink and tobacco sectors.
According to Anna Leach, the CBI's head of economic analysis, the rebound in manufacturing orders and expectations for output growth provided some further signs of improvement in the outlook for the UK economy.
She added, however, that export order books were likely to remain relatively weak until global conditions, especially in the eurozone, improved more markedly.
