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Financial News: British Manufacturers Expect Output To Fall: CBI

British Manufacturers Expect Output To Fall: CBI

11/19/2020 - 08:06:00 (RTTNews)

(RTTNews) - UK manufacturers expect output to decline at a slightly faster pace in coming three months, the Industrial Trends Survey from the Confederation of British Industry showed Thursday.

A net 10 percent of respondents forecast production to decline over the next three months, marking a worsening in expectations compared to last month's survey.

A balance of -6 percent said output volumes declined in the three months to November, which was the slowest pace since September 2019.

"Output volumes have declined at their slowest pace in over a year in our November survey," Anna Leach, CBI deputy chief economist, said.

"But order books have softened again as global demand has been hit by intensified lockdowns, and manufacturers have trimmed their expectations," the economist added.

The order books balance fell to -40 percent from -34 percent in October. This was also below the long-term average of -14 percent.

The export order books balance came in at -51 percent versus -46 percent in October. Manufacturers also expect output prices to fall in next three months.

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