Gloomy outlook in manufacturing sector as firms scale back investment

Slowdown in North Sea oil and gas and a tough export market have resulted in a decline in business confidence, an EEF survey shows

Britain's manufacturing sector has lost momentum in recent months, hit by the slowdown in North Sea oil and gas investment and a tough export market, a business survey has found.

Manufacturers' organisation EEF has cut its outlook for the sector and the wider UK economy after downbeat responses to its latest survey of more than 400 companies. It shows firms are scaling back their investment and hiring plans as overall business confidence slips.

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