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Financial News: UK Industrial Orders Remain Weak: CBI

UK Industrial Orders Remain Weak: CBI

11/24/2022 - 06:46:00 (RTTNews)

(RTTNews) - UK industrial orders remained weak in November, while production expanded for the first time since July driven by improvements in supply chains, the Industrial Trends Survey from the Confederation of British Industry showed on Thursday. A balance of -5 percent said total orders declined in November compared to -4 percent in October. Export orders also remained below normal but the balance rose to -7 percent from -14 percent.

The survey showed that manufacturing output increased in three months to November, with the balance rising to 18 percent from -4 percent. This was the first increase since the three months to July.

However, a balance of 10 percent forecast output to decline in the three months to February.

Manufacturers forecast selling price inflation to remain historically high in the next three months. A net 47 percent expects average selling prices to remain above normal compared to 46 percent in the preceding period.

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