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The
Confederation of British Industry's monthly balance of output
expectations in the coming three months rose to +36 from +33 in
February, its highest level since February 1995.
The survey also showed export orders growing at the fastest pace
since December 2013. However, the total order book balance held
steady at +8 in March, which may suggest a slightly weaker
influx of domestic orders given the large improvement in
exports.
"The past fall in the pound seems finally to be helping lift
demand for UK manufactured exports, which rose at one of the
fastest paces in this survey's history," said Anna Leach, CBI
head of economic intelligence.
Official data earlier this month showed British factories
enjoyed their strongest growth in nearly seven years in late
2016 and early 2017 and exports rose quickly, likewise
suggesting a boost for manufacturers from sterling's fall after
the Brexit vote.
But sharply rising inflation has been one side-effect from the
pound's plunge.
"(Cost) pressures are widespread, and manufacturers expect
factory-gate prices to continue to rise strongly over the next
three months. And this will also put pressure on prices
generally."
Data earlier on Tuesday showed British factory gate prices rose
3.7 percent in February, the biggest increase since December
2011.
(Reporting by Andy Bruce, editing by Alistair Smout)
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