Optimism in British Factories Reaches 22 Year High

UK-economy

Optimism among factories in Britain has reached its highest level since 1995, according to a survey by the Confederation of British Industry (CBI).

On top of this, the survey showed that export orders are growing at their fastest pace since late 2013.

A spokesman from the CBI said “The past fall in the pound seems finally to be helping lift demand for UK manufactured exports, which rose at one of the fastest paces in this survey’s history”.

Despite this positive news, the fall in the pound has also led to a sharp rise in inflation: “(Cost) pressures are widespread, and manufacturers expect factory-gate prices to continue to rise strongly over the next three months. And this will also put pressure on prices generally.”

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