22 March 2001, 14:07 CBI says UK manufacturing demand, output deteriorated in March
--CBI: Net -23% UK firms say Mar total orders above normal
--CBI: Net 3% UK firms see output up in next 4 months
--CBI: UK manufacturers order books weakest since July 1999
--CBI: Net -14% UK firms see avg prices up in next 4 months
--CBI: Net -24% UK firms say Mar export order book above normal
--CBI: Net 20% UK firms say Mar stocks more than adequate
--CBI: Data indicate effect of US slowdown on UK may be serious
--CBI: UK manufacturers' stocks at highest level since Mar 1999
By Steve Ball
London, March 22 (BridgeNews) - The U.K. manufacturing sector
continued to deteriorate in March, with demand for manufactured goods
falling and manufacturers' expectations of their future output levels also
declining. A negative balance of minus 23% said that order books were
above normal in March, compared with minus 16% in February.
The CBI said it was the most negative figure reported since July 1999.
* * *
Expectations of future output declined to plus 3% from plus 9% in
February, the weakest figures since November. Meanwhile stocks of finished goods
rose to
20% from 19% in March, the highest level since March 1999. Export orders
remained well below normal, with the balance standing at minus 24%, the
same as in February.
CBI Chief Economist Kate Barker said: "This survey is further evidence
that the troubles of the U.K.'s manufacturing sector are far from over.
The U.S. slowdown may have a more serious impact on the U.K. than first predicted.
Higher stock levels and falling demand are already causing companies to
rein back their output plans."
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