Manufacturing output volumes in the three months to March improved to broadly flat, which marked their highest balance since May 2019, according to the CBI’s latest monthly Industrial Trends Survey of 321 manufacturers. Manufacturers now expect output to pick up rapidly over the next three months, with expectations at their strongest since August 2017.

Total orders books improved to their highest balance since April 2019, surpassing their long-run average, while export order books strengthened to fall broadly in line with their long-run average. Manufacturers also anticipate output price growth will accelerate quickly in the next quarter, the strongest expectations since February 2019.

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