UK manufacturers saw output growth for the past three months ease back from record highs as firms saw stock shortages strike record levels. The latest monthly industrial trends survey by the Confederation for British Industry (CBI) said activity was “strong” as order books remained “firm.” The survey of 262 major manufacturers found that output increased in 13 out of 17 sectors, with growth particularly driven by the food, drink, and tobacco sectors. It reported 22 percent growth for the quarter to August, representing a slow-down from the 37 percent rise for the three months to July. The CBI said the survey showed this was driven primarily by the motor vehicles industry, which saw output drop from a near-record pace to being flat for the period. However, manufacturers have said they expect output growth to pick up again over the next three months. Alpesh Paleja, lead economist at the CBI, said: …
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