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Financial News: UK Manufacturing Growth Improves; Output, Order Growth To

UK Manufacturing Growth Improves; Output, Order Growth To Moderate: CBI

07/24/2018 - 07:53:00 (RTTNews)

(RTTNews) - British manufacturers' new orders continued to increase at a brisk pace with a pick-up in the domestic market offsetting a slight slowdown in new export orders in three months to July, quarterly Industrial Trends Survey from the Confederation of British Industry showed Tuesday.

Nonetheless, growth in output and total orders are forecast to slow moderately in the three months to October.

A balance of 27 percent said output volume increased in three months to July compared to 13 percent in the previous quarter. The balance is forecast to rise to 14 percent for the coming three months.

A balance of -3 percent of firms said they were less optimistic about the general business situation.

In July, the order book balance fell to 11 percent in July from 13 percent in June. The expected balance was 8 percent.

New orders over the next three months are forecast to grow slightly more slowly, with the balance falling to 11 percent from 15 percent in three months to July.

Tom Crotty, Group Director of Ineos and Chair of CBI Manufacturing Council, said, "It's great to see the manufacturing sector firing on all cylinders, with production revving up again after the slowdown earlier this year."

"But rising trade tensions and ongoing uncertainty over our future trade and customs arrangements are clearly taking their toll on manufacturers' confidence and investment," Crotty added.

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