The rate of decline in orders and output for small and medium-sized manufacturers is slowing, according to data released by the CBI's (Confederation of British Industry) quarterly SEM Trends Survey.
Of the 480 small and medium-sized businesses surveyed 51% reported a fall in orders in the three months to July and 17% saw a rise, leading to a balance of -34%.
This figure is a marked improvement on the previous quarters balance of -51%, which was the worst balance since the survey began in 1988.
Optimism about the business situation among small and medium-sized manufacturers is also falling at a slower rate, with a balance of -9% optimistic, compared to -42% in the previous quarter.
"Business conditions remain difficult for the UK's small and medium-sized manufacturers. Orders and output are still falling, but things aren't quite as gloomy as they were three months ago," said Russel Griggs, Chairman of the CBI's SME Council.
www.ukba.co.uk
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