British industrial output suffered a biggest quarterly slump on record from April-June as the coronavirus pandemic heavily disturbed the sector and further decline is still not off the table for months to come. The industrial orders calculated a slight up to -58 in June from May’s -62, the 38-year low, Confederation of British Industry (CBI) recorded. British exports recorded the lowest fall in 1977 when it reached a -79 deep. The three-months-reading also shows the lowest since July 1975, reaching -57 from previous -54.
The pandemic-induced crisis resulted in a challenge for the manufacturing sector where April data shows factory output in a historic fall of 28% year-on-year, but manufacturers seems less pessimistic about next quarter as the output expectation are showing less on the negative side, at -30 from previous -49, even as the overseas demand are weaker.
The deepest plunge in production sector are the mechanical engineering, automotive and metals sectors, reported CBI.
