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Record output growth for manufacturers, but cost pressures & supply concerns loom large
The survey of 250 manufacturing businesses reported output increasing in 16 out of 17 sub-sectors, led by the motor vehicles & transport equipment and food, drink & tobacco sub-sectors. Manufacturers expect output to grow at an even quicker pace in the next three months – the strongest growth expectations on record. Furthermore, total new orders grew at their quickest pace since 1974. This reflected domestic orders expanding at their fastest rate on record (since 1975), and the first rise in export orders since January 2019. Meanwhile, numbers employed in the sector grew at their fastest pace since 1973, and are ... (full story)