According to the CBI’s latest Industrial Trends Survey, UK manufacturing output volumes fell sharply in the three months to September and are expected to decline again in the three months to December. This is the first time expectations have been negative since November 2023. Output decreased in fourteen out of seventeen sub-sectors in the quarter, with the fall driven by the motor vehicles and transport, metal products and paper, printing and media sub-sectors. In addition, total order books were reported as below “normal” in September, having deteriorated relative to August (-35% from -22%) – significantly below their long run average. Export order books were also seen as below “normal”, having deteriorated considerably relative to August (-44% from -22%) – also far below the long-run average and at their weakest since December 2020. To read CBI’s news release, go to https://www.cbi.org.uk/media-centre/articles/cbi-industrial-trends-survey-sept-2024/.