Skip navigation

Gloucestershire Business News

CBI finds optimism soaring among manufacturers

Optimism in UK manufacturing grew at the fastest rate for almost 50 years over the last three months, according the CBI.

The business organisation's quarterly Industrial Trends Survey also found strengthening investment intentions, particularly for plant and machinery.

Business optimism moved from minus 22 per cent in January to plus 38 per cent - the quickest pace of growth since April 1973.

While output remained flat throughout the quarter, new orders were up five per cent - from minus 12 per cent in January - with both output and orders expected to grow in the next quarter.

Domestic orders grew at their fastest pace since July 2018 while export optimism for the next year strengthened after three years of decline.

Headcount growth, which also hit its fastest rate since April 2019, is expected to accelerate further in the next quarter.

CBI chief economist Rain Newton-Smith said: "Manufacturers have reported the biggest increase in optimism in nearly 50 years in this month's quarterly survey.

"Phased reopening has lifted the mood among firms, notably driving orders, employment, and investment plans."

She continued: "Rising costs are an increasing concern for many businesses, and seem to be putting upward pressure on prices as firms try to protect their margins.

"Continuing to support firms while they get on a steadier footing as restrictions ease will be crucial to recovery.

"The Government should continue to work closely with business to ensure reopening is a success, while boosting competitiveness over the long term."

Related Articles

Coronavirus LIVE Updates: The latest news from across Gloucestershire on Thursday, May 13 Image

Coronavirus LIVE Updates: The latest news from across Gloucestershire on Thursday, May 13

The latest important news and updates from across Gloucestershire as the coronavirus crisis continues.

US exports to reach £4m for Gloucestershire wildlife product manufacturer Image

US exports to reach £4m for Gloucestershire wildlife product manufacturer

A Tetbury-based wildlife product business has established itself in the US market and expects to generate export sales of £4million over the next five years.

Man arrested after woman's death in Gloucester Image

Man arrested after woman's death in Gloucester

A man has been arrested for murder following the death of a woman in Gloucester.

Travel business to open Cheltenham store Image

Travel business to open Cheltenham store

Independent travel company Trailfinders has announced plans to open a new travel centre in Cheltenham.

Copyright 2021 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.