Optimism falls as UK factories hit by fastest rise in costs since 1975

CBI's April survey shows firms planning to pass on increase to consumers

Optimism among UK manufacturers has fallen at its sharpest pace since the first coronavirus pandemic lockdown two years ago as firms struggle to cope with the fastest increase in their costs since 1975, according to the latest industry health check.

With the war in Ukraine giving a fresh upward twist to the pressures on companies, the April industrial trends survey from the employers' organisation the CBI found firms cutting back on investment and planning to pass on higher costs to consumers.