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Financial News: UK Manufacturing To Perform Relatively Well In 2017:

UK Manufacturing To Perform Relatively Well In 2017: Capital Economics

04/25/2017 - 10:16:00 (RTTNews)

(RTTNews) - The British manufacturing sector will perform relatively well this year, despite a weak start to the second quarter, Paul Hollingsworth, a UK economist at Capital Economics, said.

The Industrial Trends survey from the Confederation of British Industry, released on Monday, showed that the total orders balance fell to +4 percent in April from +8 percent in March.

Meanwhile, the total order book balance rose to +25 percent in three months to April, the highest in 12 years. The output expectations balance plunged to 16 percent.

The economist said the output expectations balance is consistent with quarterly growth in the official measure of manufacturing output of about 0.1 percent.

Though the survey suggested that the manufacturing sector started the second quarter on a fairly weak footing, the forward-looking elements indicates that any weakness should not be too prolonged, the economist said.

Hollingsworth said the strength in the manufacturing sector should help to offset some of the slowdown in consumer-related services sectors this year.

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