CBI predicts economic gloom as domestic demand slows

Further economic gloom is to be expected, the CBI's quarterly industrial report reveals, as manufacturing orders are falling at the fastest rate in four years paced by a visible decline in domestic demand. This comes as the survey shows that "home orders" are now dropping at the fastest rate since April 1999, indicating the weakness in global trading conditions that caused the manufacturing slowdown is now spreading to other markets. Today's bleak result was predicted. However, to prevent any additional downfall, the CBI will from now on increase pressure for a cut in intere...