Orders taken by manufacturing companies were down in the three months leading up to January, however, the output was still stable.
In good news, over the next three months, orders and output are expected to rise. Of the 389 manufacturing companies that contributed to the latest CBI quarterly Industrial Trends Survey, 25% reported that total new orders had risen, while 28% said they fell.
Anna Leach, CBI head of economic analysis, said: “While domestic demand and business optimism have steadied, export demand remains a concern for manufacturers, with orders continuing to fall, albeit at a slower rate. There are encouraging signs of stability in overall demand, however, with domestic orders, export orders and production expected to rise in the quarter ahead.”