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Financial News: UK Manufacturing Order Growth Strongest Since 1988: CBI

UK Manufacturing Order Growth Strongest Since 1988: CBI

11/21/2017 - 06:16:00 (RTTNews)

(RTTNews) - UK total orders grew the most since 1988 and export order books reached the joint highest level in more than 20 years in November, the latest monthly Industrial Trends survey from the Confederation of British Industry showed Tuesday.

A balance of +17 percent said total order book remained above normal in November, the highest since August 1988. The expected balance was +3 percent.

At the same time, the export order book balance came in at 20 percent, which was above its long-run average of -18 percent.

A balance of +13 percent expects output growth to accelerate in the coming quarter. The survey was conducted between October 26 and November 14.

"Nonetheless, uncertainty continues to hold back investment and cost pressures remain strong," Anna Leach, CBI Head of Economic Intelligence, said. "Manufacturers will be hoping the Budget brings some relief from the business rates burden in particular."

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