Andy Burnham was yesterday urged to slash industrial electricity prices as manufacturers suffered the steepest rise in costs in four years.
New orders also fell sharply – at the fastest pace in six years – according to figures for July compiled by the Confederation of British Industry (CBI).
They illustrate the scale of the challenge facing the new Prime Minister after setting out his ambition to reindustrialise Britain.
The survey found that falling orders reflected both domestic and export trade weakening – and that firms expect them to decline again over coming months ‘at a rapid pace’.
Sentiment among UK manufacturers continued to decline as costs outpace prices, squeezing profitability.
