Order books for British manufacturers grew at their slowest rate in two years this month as exports continued to struggle in the face of the strong pound, according to a key industry survey.
The findings deal another blow to UK factories, which staged a resurgence last year but have stalled since then. Official second-quarter GDP figures published today are expected to underline the imbalance in the economy, with consumer spending driving Britain’s recovery and manufacturing in the doldrums.
The CBI’s industrial survey of 445 companies found that the balance of those reporting an increase in orders in July fell to -10 per cent, the weakest reading since July 2013. Prospects appear to be worsening, with a balance of 8 per cent of respondents expecting an