Stagnant output stokes worries over recovery

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Official figures showed factory output stagnated in October having recovered in September.

A CBI survey added to the gloom when it found that manufacturers think production will fall over the next three months.

Ian McCafferty, chief economic adviser to the CBI, said: "Output had been edging higher after the rapid stock depletion earlier this year.

"But with demand moving only slowly in the right direction, order books remain weak and firms now expect production will fall back slightly in the next three months.

"This highlights the fragility of the recovery and the likelihood economic activity will continue to bump along the bottom early next year."

Lee Hopley, chief economist of manufacturers' group EEF, said: "Although monthly figures have a reputation for volatility, they confirm that a sustained recovery is still some way in the distance despite a gradual improvement in conditions.

"All eyes will now be on the Chancellor to provide a stable and predictable business environment to support recovery and not bring forward measures that damage the economy at such a critical time in the cycle."