The Confederation of British Industry trends survey will release its balance of manufacturing output, taking into account orders and exports. In June the balance is expected to continue around the -12 level. According to Mike Carey, currency strategist at Calyon: "May's industrial trends survey slipped to -12, and perhaps heralded the softness witnessed in the subsequently released hard data on manufacturing output." He reckons that the manufacturing sector is struggling may not be surprising, but it has taken on rather more relevance since the sector made a positive contribution to growth during the first quarter. "If this is not repeated in the second, then the downside risks to growth will rear their ugly head once again. We look for the balance to remain around -12." He concluded.