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Financial News: UK Manufacturing Stocks Rose At Record Pace: CBI

UK Manufacturing Stocks Rose At Record Pace: CBI

04/26/2019 - 08:13:00 (RTTNews)

(RTTNews) - UK manufacturers built stocks at a record pace in the three months to April, as they brace for a chaotic Brexit, survey data from the Confederation of British Industries, or CBI, showed Friday.

Output growth remained modest overall in the three months to April and volumes are expected to be largely flat in the next three months, the survey from the lobby group showed.

New order growth was also modest, largely led by domestic demand, while export order were unchanged. Looking ahead, total orders are expected to fall in the next three months.

Stockpiling of raw materials, work in progress, and finished goods took place in record rates, the survey showed. However, stocks are expected to fall across the board in the next quarter.

The weakening in business optimism slowed, though the proportion of firms citing political/economic conditions abroad as a factor likely to limit export orders in the next three months was at its highest since January 1983.

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