Source: Sharecast
The CBI’s balance for manufacturing new orders fell to -33 from -30 in May.
Ben Jones, CBI lead economist, said the sector is under significant pressure, contending with high energy costs, rising labour costs, pervasive skills shortages, and a volatile global economic environment.
"With departmental budgets now set following the Spending Review, businesses are looking to the government to dismantle barriers to growth ahead of the Autumn Budget," he said.
"Welcome progress has been made with the recent infrastructure and industrial strategies setting a clear long-term economic vision for the UK. This is complemented by a US-UK trade deal expected to mitigate tariff uncertainty, especially for automotive and aerospace, and British Steel's agreement to provide 337,000 tonnes of rail track for Network Rail.
"With long-term strategies presented, the government must now continue to back up its ambitions with short-term delivery. This includes rolling out welcome energy cost interventions as soon as possible; delivering on Growth and Skills Levy flexibility; and pushing technology adoption to boost productivity.”
"Businesses are ready to work in partnership to translate long-term ambitions into near-term investments, job creation and opportunities."
