LONDON (Reuters] – British factories reported a near record amount of new orders in May, however, there was also a growing shortage of finished goods. An industry survey on Monday showed that stocks had declined at an unprecedented rate in the last month.

Figures from the Confederation of British Industry between Nov. 22 & Dec. 10 show no evidence of Omicron coronavirus knock. This has been devastating for face-to–face consumer service businesses.

CBI monthly order balances for manufacturers fell to +24 December, from November’s record-breaking high of +26. Meanwhile, output growth in the last three months was at its highest level since July.

While growth will slow over the next 3 months, it is still well above its long term average.

The UK’s manufacturing demand is strong and production accelerated in December to satisfy this demand. But, there are many pressures behind the scenes,” Anna Leach from the CBI, deputy chief economics, said.

In December, the gauge of stock of finished goods fell to record lows of -24. This is a drop from December’s previous record low of 16

However, inflation pressures did not ease as much, with only +62 percent of companies reporting price rises for December, an improvement from +67 in November.