Nearly three quarters of manufacturing companies are operating at their lowest level for two decades, a CBI survey found on Wednesday.

Forum Response: Institute of Directors

A spokesman for the IoD told ePolitix.com: "The manufacturing sector has been in recession for nearly two years now.

"With recent economic news suggesting that the world economy continues to deteriorate the outlook for the sector looks bleak indeed. A cut in interest rates in February would at least bring some relief."

Forum Response: Construction Products Association

A spokesman for the Construction Products Association told ePolitix.com: "Construction product manufacturers have generally bucked the downward trend over the last year as construction output grew by over seven per cent.

"Whilst the industry also anticipates further growth during 2003, slower UK and world economic growth is having a serious impact on areas such as industrial buildings as manufacturers cut back on planned investment.

"Indeed industry growth during 2003 and beyond will be dependent upon the delivery of planned government investment in the built environment."