Financial News: UK Manufacturers Expect Output To Recover: CBI

UK Manufacturers Expect Output To Recover: CBI

(RTTNews) - UK manufacturers expect production to rise moderately in the three months to November after falling in the three months to August, the Industrial Trends Survey data from the Confederation of British Industry showed on Thursday.

For the first time since March, output volumes declined in the three months to August. The balance posted -9 percent compared to -3 percent in July.

However a net 9 percent expects output to increase in the three months to November.

The order book balance rose to -22 percent in August from -32 percent in July. Despite the improvement, the level was well below the long-run average of -13 percent.

Meanwhile, the export order book balance fell to -22 percent from -18 percent a month ago.

Manufacturers' expectations for selling price inflation accelerated after slowing to a three-and-a-half-year low in July. A net 15 percent expects selling prices to rise compared to 2 percent in July.

"The stop-start recovery seen in recent months continued in August, with output volumes falling for the first time since March and order books remaining below average," CBI Lead Economist Ben Jones said.

"But it's encouraging that manufacturers still remain confident that output will tick up over the autumn, despite expectations for growth diminishing from a two-year high last month," said Jones.

The survey was conducted among 222 manufacturing firms between July 26 and August 13.

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