Manufacturing output continues to expand at a solid rate, according to the latest CBI monthly Industrial Trends Survey.

The survey of 481 firms found that manufacturers are expecting the rate of production to accelerate rapidly, with 11 of the 18 sub-sectors upgrading their expectations for output over the next three months.

Meanwhile, export order books weakened slightly, but remained comfortably above their long-run average. Chemical firms experienced the sharpest drop in overseas demand, contrasting with the motor vehicle and transport sector, which reported the greatest improvement. Total orders remained unchanged from the previous month, well above average levels.

Companies' near-term expectations for prices eased, with a majority of respondents anticipating no change over the next three months.

Stock adequacy climbed to the highest level since June 2013, with half of the change in the balance accounted for by chemical manufacturers, who also scaled back their output the most out of the survey respondents - CBI.