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Manufacturers regain nerve
20.05.09
Confidence among manufacturers is at its highest level since the financial meltdown last autumn.
The CBI said a balance of 17% of firms think output will fall over the next three months, against the 32% braced for declines the previous month and the least gloomy since before the collapse of Lehman Brothers in September.
"Manufacturers can see a glimmer at the end of the tunnel," said CBI chief economic adviser Ian McCafferty.
"They still expect manufacturing activity to fall, but at a much slower rate than over the next few months."
