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Good news for economy as exports show a marked rise

By John-Paul Ford Rojas

Published 22/05/2015

The CBI has upgraded its forecast for economic growth in 2015
The CBI has upgraded its forecast for economic growth in 2015

The UK's manufacturing sector enjoyed mixed fortunes this month as order books fell to a seven-month low.

But export orders were at the best level since August, according to a CBI survey.

The figures showed 20% of firms reported total order books to be above normal, while 24% said they were below normal, giving a rounded balance of minus 5%.

However, there was an improvement in the reading for export orders which, at minus 7%, was the best reading for nine months, a period which has seen the strength of the pound drag on overseas sales.

Manufacturing output for the past three months remained sluggish though improved on a 22-month low in April, while expectations for the next three months were slightly reduced.

Rain Newton-Smith, CBI director of economics, said: "Things are looking up for our manufacturers, with growth continuing and export orders improving.

"Some of this could be down to an improvement in the eurozone's momentum - but the strengthening pound is still proving quite a challenge.

Belfast Telegraph

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