Manufacturing output falls for fourth month in a row - CILT(UK)
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Manufacturing output falls for fourth month in a row

22 October 2019/Categories: CILT, Industry News, Logistics & Supply Chain, Operations Management


Manufacturers are planning to invest at the lowest rate since the financial crisis as Brexit uncertainty continues to hit activity in the sector, according to a report.

A survey by the CBI business group found manufacturing output continued to contract in the three months to October - marking four months in a row of flat or falling output.

It said this was driven largely by a significant decline in the motor vehicles and transport equipment sectors.

While investment plans are now being held back by Brexit, optimism among firms is also being knocked badly - falling at the fastest pace since July 2016 - and optimism about exports for the year ahead has deteriorated to the greatest degree in 18 years, according to the CBI.

Rain Newton-Smith, the CBI's chief economist, said: "This quarter's findings paint a worrying picture for the manufacturing industry.

"A combination of Brexit uncertainty and weaker global growth are clearly hitting sentiment and export prospects, with job prospects at their weakest since the global financial crisis.

"Finding a resolution that avoids a no-deal Brexit will give firms the confidence they need to step up investment in people, growth and innovation.

"But for long-lasting prosperity we need an ambitious free trade agreement which provides tariff-free access to our largest trading partner for our manufacturers right across the country."

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