The CBI has said that UK manufacturers cut employee numbers for the first time in nearly three years as output contracted in the quarter to October, according to the business trade body’s latest industrial trends survey.
The embattled Confederation of British Industry (CBI), which was dealt another blow after business secretary Kemi Badenoch turned down an invitation to speak at its annual conference, said that its latest survey for the quarter to October showed that the “red lights are flashing” in the UK manufacturing industry.
Anna Leach, deputy chief economist at the lobby group, said that the chancellor needs to use November’s autumn budget statement to reinvigorate the sector by encouraging investment and skills development.
“The warning lights are flashing red in our latest manufacturing survey, with business sentiment deteriorating, output volumes falling and manufacturers becoming more cautious over their employment and investment plans.
The survey, which is based on the responses of 253 manufacturing firms, found that the numbers employed fell…
