UK manufacturers suffering slump in demand, CBI survey shows

Findings reveal that new export orders fell at fastest pace in three years, while domestic demand is also easing

British manufacturers are suffering from waning demand from home and abroad, according to the latest business survey highlighting the impact of sputtering global growth and a strong pound.

The survey of factory bosses by the business group CBI suggests order books have deteriorated at the fastest pace for three years. Facing a gloomier outlook, manufacturers have scaled back hiring in recent months and are looking to cut spending on training and innovation.