Industry rally 'is fading'

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The industry boom seen at the start of the year is now little more than a distant memory, the CIPS warned.

The organisation's activity index, where a score over 50 signals expansion, showed the UK's "march of the makers" slipping closer to stagnation during a month when experts were looking for stronger growth.

The index fell from 52 to 51.3, the lowest since September 2009 when the UK was pulling out of recession.

CIPS chief executive David Noble said: "The UK's manufacturing sector is slipping into 'growth-lite' mode, a far cry from the strong expansion seen earlier in the year."

Worryingly, new orders fell for the second month in a row while exports are also suffering in a soft patch for the global economy. The figures came after more evidence of manufacturing weakness in surveys from China and the eurozone.

Jonathan Loynes, chief European economist at Capital Economics, said the UK's industrial recovery was "rapidly losing steam".

He warned: "The weakness of the orders indices suggests that there has been a sharp fall in underlying demand for UK producers' products, at home and abroad.

"Hopes that a sustained rebalancing of a economy towards the industrial sector would help to offset the weakness of the consumer sector are fading fast."