Industry gloomy spreads across the UK
UK industry is gloomy about its prospects in every region of the UK according to the latest survey from the Confederation of British Industry.
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The Regional Trends Survey, released today, shows all eleven regions have suffered a crisis in confidence with the North of England, Scotland and Ireland being hit hardest.
Doug Godden, head of economic analysis at the CBI said: ‘With further job losses on the horizon, manufacturing confidence has deteriorated right across the UK.
‘This had not happened for a year, despite the manufacturing recession. Weak international demand is pulling operating levels further away from full capacity. In this difficult climate, firms have no intention of increasing investment, but it is encouraging that many regions expect output to pick up.’