Britain’s economic reopening has helped create the strongest pick-up in optimism among manufacturers for nearly half a century, according to new figures.
A balance of 38% of firms surveyed by the Confederation of British Industry (CBI) said their outlook on the business situation had improved in the past three months.
It was the first positive reading since January, last year, before the pandemic shut down much of the UK economy and the highest since April 1973.
Factories are also stepping up hiring, with the measure of firms looking to grow their workforce over coming months at the highest since 1974.
The survey found that manufacturing output was broadly flat in the past three months but orders for new work were picking up and investment plans were being accelerated to take advantage of a “super-deduction” tax break announced in Chancellor Rishi Sunak’s budget.
Yet the outlook is being tempered by rising … Read the rest