24 March 2015

Factory bosses say the outlook is still positive, despite exports plunging to their lowest level for over two years.

The strong pound and instability in the eurozone have seen many firms report a fall in export orders for March, according to data released by the CBI.

The latest poll of 468 firms has found that the number of export orders has dropped.

Just 10% of the firms surveyed said export orders were above normal, while over a third (35%) said they were below expectations.

This gave a rounded average of minus 26%, the lowest level since January 2013.

But, despite this, many firms still expect to increase production over the next three months.

The CBI report said factory output has been on the up, growing at a decent pace since August.

It added that output was also well above the long-term average of minus 16% in March.

This article was written by the Press Association, for Legal & General. Please note the views expressed in this article are not necessarily the views of Legal & General and its group of companies.

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