Manufacturers to raise prices
Manufacturers are "really feeling the impact" of a slowing sector, according to the Confederation of British Industry (CBI).
Recent research by the CBI suggests that the slowdown could have wider implications for those in manufacturing sales jobs too as prices are expected to rise dramatically in coming months.
Chief economic adviser at the CBI, Ian McCafferty, said: "It is clear from the pricing data in the survey that manufacturers are really feeling the impact and having to pass their increasing costs on.
"For the second month in a row firms are saying orders are below normal and that output levels will be flat."
Figures indicate that 31 per cent of firms rate their order book as below normal and 36 per cent expect their prices to increase.
Many also believe that their volume output is unlikely to grow in the near future.
The CBI claims that the 75 per cent increase in the cost of crude oil is responsible for the increased inflationary pressure.
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Filed: 28-05-2008
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