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Financial News: UK Manufacturing Activity Strengthens: CBI

UK Manufacturing Activity Strengthens: CBI

01/23/2018 - 07:05:00 (RTTNews)

(RTTNews) - Growth in manufacturing output and domestic and export orders picked up in three months to January, the Industrial Trends survey data from the Confederation of British Industry showed Tuesday.

A net balance of 13 percent of manufacturers reported that they were more optimistic about the general business situation.

Nearly 33 percent of firms said the volume of output over the past three months was up and 12 percent said it was down, giving a balance of +21 percent.

The balance of domestic orders came in at 21 percent and that for export orders at 24 percent, both grew more than the previous quarter.

Employment grew at the fastest pace since July 2014 over the last three months, with further growth expected next quarter. A net 20 percent reported an increase in employment.

New orders growth is expected to slow moderately, as growth in domestic orders eases. At the same time, output is expected to grow at a similar pace next quarter.

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