Financial News: British Manufacturing Sentiment Falls In July: CBI

British Manufacturing Sentiment Falls In July: CBI

07/25/2024 - 08:37:00 (RTTNews)

(RTTNews) - Optimism among British manufacturers dropped marginally in July but their output expectations hit the strongest since March 2022, a closely watched survey showed Thursday.

After rising in April for the first time in nearly three years, the business confidence index fell to -9 percent from +9 in April, the latest quarterly Industrial Trends Survey results from the Confederation of British Industry showed on Thursday.

At the same time, export optimism was flat in the three months to July after rising in the preceding quarter.

A net 3 percent of manufacturers said output volumes declined in the quarter to July compared to a net 3 percent reporting increase in the prior period. A net 25 percent, the strongest since March 2022, said output volumes will rise in the coming three months.

The order book balance fell to -9 percent from -6 percent in April as domestic orders declined notably, while the volume of new export orders increased slightly.

The survey showed that investment intentions for the coming year strengthened in July. Uncertainty about demand, inadequate net return, shortage of labor and internal finance were cited as major constraints on investment.

A net 52 percent of manufacturers said average costs increased rapidly in the quarter to July compared to 39 percent in April.

"The near-term outlook for the sector remains positive amid an ongoing recovery in the wider UK economy," CBI Lead Economist Ben Jones said.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

Swiss Consumers More Pessimistic In August (09 hr(s), 53 min(s), 36 sec(s) ago)
(RTTNews) - Confidence among Swiss consumers remained more negative in August, survey results from ...Full Story»

U.S. Job Growth Misses Estimates In August But Unemployment Rate Dips (10 hr(s), 26 min(s), 36 sec(s) ago)
(RTTNews) - Employment in the U.S. rose by less than expected in the month of August, according to ...Full Story»

Czech Industrial Output Decline Softens; Trade Deficit Narrows (11 hr(s), 03 min(s), 36 sec(s) ago)
(RTTNews) - The Czech Republic's industrial production decreased for the fifth straight month, ...Full Story»

U.S. Employment Climbs Less Than Expected In August (11 hr(s), 10 min(s), 36 sec(s) ago)
(RTTNews) - Employment in the U.S. rose by less than expected in the month of August, according to ...Full Story»

Eurozone GDP Growth Slows In Q2 (11 hr(s), 36 min(s), 36 sec(s) ago)
(RTTNews) - Euro area economic growth rate for the second quarter was revised down as the positive ...Full Story»

France Industrial Output Falls 0.5% (12 hr(s), 03 min(s), 36 sec(s) ago)
(RTTNews) - France's industrial production decreased more-than-expected in July after reboundi ...Full Story»

Italy Retail Sales Rebound 0.5% (12 hr(s), 50 min(s), 36 sec(s) ago)
(RTTNews) - Italy's retail sales increased more-than expected in July after falling in the pre ...Full Story»

French Trade Gap Narrows In July (13 hr(s), 21 min(s), 36 sec(s) ago)
(RTTNews) - France's trade deficit decreased in July from a year ago as imports fell faster th ...Full Story»