UK manufacturing output is growing at its slowest rate for more than two years as an export drive is held back by the strong pound and uncertainty over Greece’s position in the euro, according to the CBI.

Its quarterly industrial trends survey found investment intentions have fallen sharply, while manufacturers believe their competitiveness in the EU has worsened to its lowest level since April 2000.

CBI deputy director-general Katja Hall blamed the rise in the pound against the euro, adding: “The unravelling situation in Greece is also creating uncertainty.”

bbabo.Net