Production and Trade data
The November industrial production will be released by the ONS on Wednesday. After an outstanding growth performance in Q2, manufacturing output declined by 0.9% in Q3 and by 0.6% in the month to October. Yet this trend looks set to reverse as PMI readings and EEF manufacturing outlook point to a moderate expansion in Q4.
The ONS will also release November trade data on Wednesday. In October, the deficit on trade in goods narrowed by £4.1 billion to £9.7 billion. Exports increased by a significant 8.7% in October, while imports declined by 5.2%. And this trend is likely to continue. As highlighted in 2016q4 EEF manufacturing outlook, manufacturers reported higher export orders driven by brighter demand conditions in major markets and underpinned by the persistent weak level in the Sterling exchange rate.
EEF Exec Survey is out today
Today, we publish our annual Executive Survey - a view on manufacturing executives' expectations in the year ahead. This time last year our 2016 Exec Survey showed that risks had become more prominent for manufacturers, but that they were planning on taking a broad range of actions to create their own opportunities for growth. What do manufacturers expect from 2017?