LONDON, Feb 21 (Reuters) - British manufacturing output
and orders sagged in February and price pressures cooled again,
an industry survey showed on Tuesday.
The Confederation of British Industry's (CBI) gauge of
factory output for the past three months fell to -16 from -1,
the lowest reading since September 2020.
While its balance of new orders rose slightly to -16 from
-17, it remained firmly in negative territory.
"Conditions in manufacturing remain challenging, with output
disappointing and order books having thinned out since late last
year," said Anna Leach, deputy chief economist at the CBI.
"However, if growth is going to return to the sector on a
sustainable basis, then manufacturers need more than the boost
some will receive from lower energy prices over the winter
season."
Leach called on finance minister Jeremy Hunt to announce
measures in his March 15 budget that would improve the
competitiveness of British manufacturers.
A separate survey of the manufacturing industry published
earlier on Tuesday by S&P Global and trade body CIPS similarly
showed a contraction in factory activity this month, albeit less
severe than in January.
The CBI's gauge of price pressures fell in February, adding
to signs that the momentum behind inflation in Britain's economy
is receding.
The survey of 280 manufacturers took place between Jan. 26
and Feb. 13.
(Reporting by Andy Bruce
Editing by William Schomberg)
Messaging: @brucereuters))
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