The Confederation of British Industry (CBI) has said that manufacturers’ order books improved marginally in July from 11% to 12%, with +13% of manufacturers expecting an export-led boost in the next three months.

“This looks like a healthy situation, with exports particularly attracting the eye,” said City analyst Colin Perry. “They are forecast to rise at the fastest rate since 1995 and this should see some healthy numbers on companies’ balance sheets in the next year or so.”

He continued: “However, domestic orders were tipped to be more sluggish and this is one area where things could usefully improve. We are seeing a consumer slowdown on the High Street after the World Cup and manufacturers are always in the front line of such trends.”