UK manufacturing output volumes in the three months to June grew at the fastest pace on record (since 1975), according to the latest monthly CBI Industrial Trends Survey. The survey of 304 manufacturing businesses reported output increasing in 15 out of 17 subsectors. Growth was driven by the motor vehicles & transport equipment and food, drink & tobacco sub-sectors. Manufacturers expect output to grow at a quick pace in the coming quarter, albeit slightly slower than this month’s outturn. The improvement in demand conditions was also evidenced by total order books in June reaching their strongest outturn since ... (full story)