The results of the recent FOI Industry Survey show that industrial confidence was negative in August, although to a lesser extent than that registered in the previous month.

Overall, manufacturers have reported "below normal" order books, and a negative assessment of stocks of finished products. The survey also shows that firms have scaled back their production expectations for the next three months.

A breakdown by industrial groupings shows a substantial fall of confidence for the consumer goods sector. This sector registered a sharp decline in production expectations, which offset less negative order books and lower stocks of finished products.

The intermediate goods sector also shows a negative balance of industrial confidence but at a smaller scale compared to that registered in July. This sector registered positive production expectations and less negative order books.

Industrial confidence for the investment goods sector shows a significant upturn in confidence, driven by high optimism for production expectations, positive overall and export order book balances, and a lower stock of finished products.