Manufacturing orders at two-year high
Domestic demand has put manufacturing orders at their highest level in nearly two years, according to the Confederation of British Industry (CBI).
Shipbuilding, aerospace and industrial machinery products have seen resurgence, but export orders continue to struggle against a strong pound, according to analysts.
Ian McCafferty, the CBI's chief economic adviser, said:
"The outlook remains encouraging for UK manufacturers. But it is disappointing that export orders have not improved more given the current revival of the Eurozone economy, our principal export market."
The CBI's barometer for orders put figures at minus 8% in August, the strongest reading since December 2004.
