The 海角视频's manufacturing output has fallen for the first time since February 2021, with no growth expected for the three months ahead.
That's according to the latest monthly Industrial Trends survey from the Confederation of British Industry (CBI) and professional services company Accenture.
The survey, which is based on responses from 257 manufacturers, reported that manufacturing output volumes fell in the three months to August, at a balance of -7% from +6% in the three months to July.
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This marked the first time since February 2021 that output has declined.
Manufacturers reported order books falling below "normal" levels, and expectations for selling price inflation picking up.
The survey found that output is expected to be broadly flat over the next three months (at -2%) making a significant worsening of expectations from just a few months ago.
Output increased in 10 out of 17 sectors in the three months to August, however the fall in headline growth reported this quarter was largely driven by food, drink and tobacco, mechanical engineering and paper, printing and media.
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Total order books were reported as below "normal" for the first time since April 2021 (at -7% from +8% in July). Export orders were also seen as below par, to the same extent as last month (-12% from -12%).
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While stocks of finished goods were seen as broadly adequate in August, after being less than adequate in the previous quarter (at +2% from -7% in July).
Expectations for average selling price inflation have picked up (at +57% from +48%) and remain well above the long-run average of +6%.
CBI's lead economist Alpesh Paleja said: "From rising prices to bottlenecks in supply chains, manufacturers continue to operate against a background of high input costs and significant operational delays. When coupled with an oncoming economic downturn, it’s not surprising to see orders and activity ebb away as we move through the year.
"With expectations for future growth subdued, steps will need to be taken to shore-up confidence in the short-to-medium term – particularly supporting vulnerable firms and consumers with energy price rises.
"Against a backdrop of weaker activity, a permanent replacement for the super-deduction and bold action on business rate reform remain the best ways to support capital investment plans."
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