Doom and gloom on south's economy
The CBI has painted a stark picture of the south's economic outlook, as manufacturing demand drops.
The organisation said jobs in the sector were now at risk in the wake of the latest figures from the Regional Trends Survey, which showed a marked denting of confidence in the south-east.
The research, by the CBI and Experian, revealed the volume of total new orders on a national scale has remained stable over the past quarter, but total new orders experienced a drop in the region.
Malcolm Hyde, CBI south- east regional director, said: 'The story in the south-east is of falling demand, shrinking output and declining jobs. The slowdown underway in other parts of the economy is now being felt in the manufacturing sector.
'The survey suggests the pound's 14 per cent depreciation against the Euro over the past year is helping to support manufacturing exports, at a time when Eurozone growth is faltering. This is the one bright spot in a fairly downbeat picture.'
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Weather for Portsmouth
Tuesday 22 May 2012
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