The CBI Industrial Trends manufacturing output volume index was at the lowest since August 2020 at -25% in December, down from -12% in November.

• Output volumes are expected to fall at a sharper pace in the three months to March 2025 with a forecasted reading of -31% which would be a new 4.5 year low.
• Total order books were the weakest since November 2020 with that index reading at -40%. Export order books were at a similar weak level of -37%.
• Despite demand showing as weak, selling price expectations increased to 23% in December from 11% in November.