Surveys show rise in manufacturing exports
Stronger exports helped UK manufacturers to end 2007 on a high
, though there are signs of a slowdown at the start of this year.
Two manufacturing surveys – one from the CBI, the other from the Engineering Employers Federation (EEF) and Grant Thornton – indicated steady output and "normal" order books. However, orders are beginning to fall due to weak domestic demand.
CBI chief economic advisor Ian McCafferty said: "Although firms are reporting weakening demand and expect output to grow only modestly [this] quarter, it is a case of the sector changing from fifth gear to fourth, certainly not juddering to a halt."
Both surveys attracted more than 550 responses.
