Smaller manufacturers have seen orders rise for the first time in over three years, with confidence climbing at the fastest rate since April 2002, according to the latest CBI quarterly survey of small- and medium-size firms, published today.
The survey also shows that the strength of sterling is holding back exporters, disappointing January's strong expectations for overseas orders.
Total orders rose over the past quarter, with 33% of firms saying new orders were up and 28% saying they were down. The balance of plus 5% compares with plus 1% in January and minus 25% in October 2003. This modest increase represents the first growth in orders since January 2001. A balance of plus 6% of firms now predict orders will rise further over the coming quarter.
