UK manufacturing output growth in the three months to March grew at a brisk pace, as balance of manufacturers expecting to raise prices increased to a record high; growth led by the motor vehicles and chemicals sub-sectors: CBI

Sample article from our Housing & Economy

LONDON , March 22, 2022 (press release) –

UK manufacturing output grew at a brisk pace in the three months to March, but the balance of manufacturers expecting to increase prices rose to a survey record high, according to the latest monthly CBI Industrial Trends Survey.

The survey, based on 229 responses, found:

  • The balance of manufacturers expecting to raise prices in the next three months rose to a survey record high in March (+80% from +77% in February, a question first asked in Jan 1975).
  • Output volumes continued to grow at a robust pace in the three months to March (balance of +27% from +26% in the three months to February), with a similar rate expected in the three months ahead (+30%).
  • Output increased in 10 out of 17 sectors, with growth driven by the motor vehicles and chemicals sub-sectors.
  • Total order books matched the record level seen in November 2021 (+26% in March, from +20% in February, question first asked in April 1977). Export order books were above normal to the greatest extent since March 2019 (+7% from -7% in February).
  • Stocks of finished goods were seen as inadequate in March but improved for the third consecutive month (-8% from -14%).

Full results are in the attachment accompanying this press release.

Anna Leach, CBI Deputy Chief Economist said:

“This survey highlights strong order books and output growth, but the cost pressures facing manufacturers have been amplified by the conflict in Ukraine.

“The Government must use tomorrow’s Spring Statement to provide relief to both energy intensive industries and vulnerable consumers.

“To deliver a fundamental reset to UK growth, we need to see significant action to incentivise investment, a key driver of productivity growth and the only way to sustainably increase real wages. A permanent successor to the Super Deduction will ensure that economic resilience and growth go hand-in-hand.”

Tom Crotty, Group Director at INEOS and Chair of the CBI Manufacturing Council, said:

“It is positive to see that total order books remained strong in March, with export orders above normal to the greatest since extent since March 2019. Manufacturing output volumes also grew at a significant pace in the first three months of 2022.

“However, the Ukraine conflict has created further headwinds to an already challenging context for the manufacturing sector. The primary business focus is of-course on supporting the humanitarian crisis and evaluating their operations in Ukraine and Russia. But the shock to energy and other commodity markets, along with the potential for trade spillovers, will further add to the cost-of-living squeeze. Manufacturers will be looking to the upcoming Spring Fiscal Event to provide support through these challenges.”

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.

More from our Housing & Economy Coverage
See our dashboard in action - schedule an demo
Jason Irving
Jason Irving
- SVP Enterprise Solutions -

We offer built-to-order housing & economy coverage for our clients. Contact us for a free consultation.

About Us

We deliver market news & information relevant to your business.

We monitor all your market drivers.

We aggregate, curate, filter and map your specific needs.

We deliver the right information to the right person at the right time.

Our Contacts

1990 S Bundy Dr. Suite #380,
Los Angeles, CA 90025

+1 (310) 553 0008

About Cookies On This Site

We collect data, including through use of cookies and similar technology ("cookies") that enchance the online experience. By clicking "I agree", you agree to our cookies, agree to bound by our Terms of Use, and acknowledge our Privacy Policy. For more information on our data practices and how to exercise your privacy rights, please see our Privacy Policy.