British manufacturers expect significant decline in output over next 3 months
Date
12/19/2024 2:18:32 AM
(MENAFN) British manufacturers are bracing for another significant decline in output over the next three months, following a steep drop in demand, according to the latest industrial trends survey released on Tuesday. The survey revealed that output had already reached its lowest point since August 2020 during the final quarter of the year. The balance, which reflects manufacturing activity, dropped to -25 percent from -12 percent in the previous quarter of November, indicating a worsening outlook for the sector.
The survey's findings suggest a challenging environment for manufacturers, with 13 percent of respondents predicting that output will continue to decline in the March quarter. This expectation reflects growing concerns over the persistence of weak demand, which has negatively impacted production levels in recent months. The industry appears to be facing an ongoing struggle with reduced economic activity and low consumer confidence.
In addition to the decline in output, manufacturers also reported a significant drop in order books. Total order books fell to -40 percent in the December quarter, a sharp decline from -19 percent in the previous quarter. This suggests that there has been a considerable reduction in new orders, further exacerbating the difficulties faced by the manufacturing sector.
Overall, the survey paints a bleak picture for British manufacturing, with continued challenges anticipated in the near future. The ongoing slump in demand, coupled with reduced orders, is likely to weigh heavily on production levels, raising concerns about the sector's ability to recover in the coming months.
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