LONDON, July 22 (Hfrance.fr) - UK manufacturers' expectations for production growth over the next three months are the highest on record as the economy is rebounding after its lockdowns linked to the coronavirus pandemic, said Thursday thea Confederation of British Industry.
The CBI 's quarterly survey showed high levels of employment and investment in factories, but also acute inflationary pressures. Average cost growth in the three months to July reached its fastest pace since 1980.
Cost growth is expected to slow next quarter but remain high.
"UK industry is waking up to economic devastation from the pandemic "said Rain Newton-Smith, chief economist at CBI, while highlighting the challenges ahead.
" The acute staff shortages evident in The whole economy is biting deep into the manufacturing sector, with a skills shortage and the number of isolated people climbing sharply. "
More than 600,000People in England and Wales have been asked to self-isolate in the week leading up to July 14 by a government mobile app that detects if they have been in close contact with someone who tested positive for COVID-19. learn more
New orders were mainly driven by the strong increase in domestic demand, although export orders increased for the first time since January 2019 .
Investment intentions in factories and machinery over the next 12 months have been the strongest since April 1988.
UK Finance Minister Rishi Sunak in March announced a tax incentive for companies to invest in plant and machinery to help manufacturier to modernize after the coronavirus pandemic.
A monthly version of the CBI showed that the total of orders fell slightly in July but remained far from their average levels and price expectations over the next three months also fell but remained high. Written by William Schomberg, edited by David Milliken
Our standards: The Thomson Hfrance.fr trust principles.