UK industrial output slows - CBI
UK industrial output grew at the slowest pace in more than a year in the three months to July, reflecting softer demand domestically and internationally, according to a survey released on Monday.
The Confederation of British Industry’s industrial trends survey revealed that its output balance dropped to +6 for July from +19 in April.
"The manufacturing sector has been an economic bright spot in recent months, but output and orders have softened amid ongoing cost pressures, supply challenges and a generalised weakening in economic conditions both in the UK and globally," CBI deputy chief economist Anna Leach said.
Concerns over shortages of labour and shortages of components and materials remained acute, but off their recent highs.
The CBI's figures showed a large fall in the balance for manufacturers' average expected prices for the next three months to +48 from +71.
Reporting by Frank Prenesti at Sharecast.com