Manufacturing treading water says CBI Industrial Trends Survey

The survey suggests that firms continue to anticipate a modest expansion in output over the coming three months, but they are less upbeat than a few months ago. Orders and exports were little changed as SMEs struggled to maintain overseas order volumess which fell to their lowest levels since January 2010. The motor vehicles, aerospace & transport equipment sector (especially large firms in that sector) was one of the few export drivers, reporting orders comfortably above average. CBI director of economics Stephen Gifford said manufacturers were "treading water".He continued: "While an expected improvement in conditions at home and abroad should lead to better prospects for manufacturers, the business climate still remains quite fragile."