DEMAND FOR UK GOODS HITS TWO-YEAR HIGH
UK factories are preparing to ramp up production after demand for British-made goods hit a two-year high.
Business organisation the CBI’s survey of 471 firms showed total order books reached the high in the three months to February.
Expectations that output will accelerate over the next quarter are at their highest since September 2013. Data from the car industry shows production was at a 17-year high in 2016.
CBI chief economist, Rain Newton-Smith, said: “Stronger demand and production is good news for UK manufacturers though the weaker pound continues to push up input costs and this is now feeding through to output price inflation expectations.”