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CBI predicts flat start to 2013
Despite a slight rebound in manufacturing orders in December, a fairly flat start to 2013 is expected as macroeconomic conditions continue to weigh on sentiment, the Confederation of British Industry (CBI) has claimed.
UK manufacturers reported an increase in their total order books for the third month running but remain cautious about the prospect of further growth.
Looking ahead, manufacturers expect output to be flat for the next three months, an improvement from the nine per cent contraction predicted in the last survey but still not indicative of an especially successful period.
CBI head of economic analysis Anna Leach said: "Conditions in the sector and the wider economy are likely to remain fragile until global conditions improve over the course of 2013."
However, she described the slight increase in optimism among manufacturers as a welcome development.
A report recently published by ICM Research claimed that strong leadership is needed if businesses are to succeed in the coming years.
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