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MNI BRIEF: UK Manufacturing Growth Slows, Costs Soar: CBI

MNI (London)
(MNI) London

Manufacturing growth slows in September, UK business survey shows, with price pressures at highest since 1980.

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Manufacturing growth slowed markedly in October, according to CBI's latest Industrial Trends Survey released on Friday. The index for total order books declined to +9 from +22 in September, the lowest since -8 in April. The October outturn does remain significantly above the long-term average of -14.

However, manufacturers are more optimistic about the future, with the volume of output index for the next three months rising to +33 from +25 in September. Stocks continued deteriorate, with the index falling to -13 from -11 a month earlier, well below the long run average of +12.

The index for average prices over the coming quarter soared to +59 in October from +41 in September. Average domestic price growth in the quarter to October hit its quickest pace since April 1980, the CBI said.

Source: CBI