Manufacturers reported that output volumes were stable during the final three months of the year – the first time output hasn’t fallen since the quarter to July 2023, according to the CBI’s latest Industrial Trends Survey (ITS). Manufacturers expect output to rise marginally in the first three months of 2024.
Both total and export order books were reported as below normal in December, though they improved relative to the near-three year lows reached last month. Against a backdrop of subdued demand and improved supply conditions, expectations for future selling price inflation have fallen sharply over the course of 2023 and were in line with their long-run average in December.
The survey, based on the responses of 237 manufacturers, found:
- Output volumes were unchanged in the three months to December (weighted balance of 0%, from -17% in the three months to November), the first time output hasn’t fallen since the quarter to July 2023. Output is expected to rise slightly in the three months to March (+5%).
Accrol Group Holdings plc (LON:ACRL) is the UK’s leading independent tissue converter, producing toilet tissue, kitchen towel, facial tissue and biodegradable wet wipes. The UK soft tissue market is worth £1.6bn with private label products comprising circa 50%. Accrol is the leading supplier to the private label market, which is growing at over 8% year on year.
