UK manufacturing firms expect the decline in activity to ease in the next quarter

The survey for May reveals that 17% of manufacturers expect their output to increase over the next three months, against 34% that anticipate a drop in activity.

The resulting balance of -17% is up from -32% in April, and takes the measure to the highest level since September 2008.

"After scaling back production very sharply at the beginning of the year, manufacturers can see a glimmer at the end of the tunnel. They still expect manufacturing activity to fall, but at a much slower rate over the next few months," said Ian McCafferty, the chief economic adviser of the CBI.

Source - Confederation of British Industry's Industrial Trends survey.

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