Manufacturing optimism in the three months to April improved at its quickest pace since April 1973, while investment intentions saw a strong, broad-based rebound, according to the latest CBI quarterly Industrial Trends Survey. The survey of 288 manufacturers found that firms expect to increase capital expenditure on plant and machinery, buildings, product and process innovation, and training and retraining in the next year (relative to the last). In particular, investment intentions for plant and machinery were at their strongest since July 1997.

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