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Financial News: UK Manufacturers Expect Order Growth To Slow: CBI

UK Manufacturers Expect Order Growth To Slow: CBI

04/24/2018 - 06:39:00 (RTTNews)

(RTTNews) - UK manufacturers expect order growth to slow in the coming three months, the Industrial Trends Survey from the Confederation of British Industry showed Tuesday.

A net 13 percent said the volume of output increased over the past three months versus 21 percent in the preceding quarter.

At the same time, a balance of 14 percent reported an increase in new orders in three months to April. The domestic order balance came in at 1 percent, the lowest since April 2016.

Meanwhile, at 27 percent, export orders increased at the fastest pace since April 1995.

New orders growth is forecast to slow in the next three months. The balance is seen at 7 percent. Output is forecast to grow at a faster pace next quarter, with the balance at 21 percent.

The survey showed that optimism about general business conditions deteriorated, while optimism regarding export prospects for the year ahead continued to improve.

In April, the order book balance fell to 4 percent, in line with expectations.

"Although manufacturing growth has slowed again this month, manufacturers continue to enjoy the fruits of stronger growth in Europe and the lower pound," Rain Newton-Smith, CBI chief economist, said.

"And, as the UK leaves the EU, it's vital firms continue to pursue productivity gains, for example by sharing ideas on innovation, to improve their competitiveness overseas."

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