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CBI survey shows brighter outlook for manufacturers

Despite the fact that today's CBI survey indicates a brighter outlook for the manufacturing sector over the next three months, there is no hiding the fact that more businesses believe that orders will fall over the next three months than those who believe there will be an increase. The report shows that 32% of manufacturers surveyed believe that order levels will fall while 27% believe they will rise, leaving a net -5%.

While the -5% figure compares favourably to the -14% figure in July there is no escaping the fact that the manufacturing sector in the UK is still in decline and nobody can be certain as to when it will move into positive ground. There had been positive signs over the last few weeks of at least a stabilisation in the sector but the downbeat announcement by the Bank of England today will certainly not help the situation.

At this moment in time we appear to be receiving more positive news from some areas of the UK economy although these have been very much overshadowed by the views of the Bank of England. In order for a strong recovery to occur in the UK economy we do need all parties to be singing from the same hymn sheet and confidence on the up - this is certainly not the situation at the moment.

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