Today the EEF published the findings of its q4 2015 manufacturer’s survey and made for poor reading. Falls in both output and orders has been recorded for the third successive quarter with investment and employment intentions by employers downgraded as weak global demand and a strong pound impact on export orders. The EEF also predicts a 0.8% growth in manufacturing output in 2016, half the previous prediction made.
No details in the survey exist for fashion and textiles manufacturing although the recent ONS information for the sector has been positive, especially employment. The EEF survey does identify a sectoral split, showing heavy industry such as metals and chemicals predicting a gloomier outlook although motor vehicles and other transport manufacturers forecast growth showing consumer facing production might be more resilient and would be in line with the recent Fashion and Textiles data.
The blog of the release can be found here:
