Worst May Be Over

The worst of the decline may be over. Firms certainly hope so. The CBI Industrial Trends Survey saw demand fall by the biggest margin for 30 years as 60% of businesses reported a fall in the volume of new orders. The fall has resulted in continued job losses but the falls the worst since 1991 are expected to slow reduce the rate of job losses. The CBI estimates 62,000 job losses in first quarter of 2009 anmd estimates another 51,00 in the second quarter. The total unemployed in manufacturing will then reach 2,666,000. Prices are aso expected to fall again during the next three months.