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Financial News: UK Manufacturing Orders Fall At Slower Pace: CBI

UK Manufacturing Orders Fall At Slower Pace: CBI

11/19/2019 - 07:13:00 (RTTNews)

(RTTNews) - UK manufacturers continued to log a decline in orders in November but the pace of decrease slowed from October, survey data from the Confederation of British Industry, or CBI, showed Tuesday.

The order book balance fell to -26 percent in November from -37 percent in October, the Industrial Trends Survey showed. This was well below the long-run average of -13 percent.

A balance of -22 percent said their export order books were below normal compared to the long-run average of -17 percent. Further, a net -9 percent reported decrease in output volume over the last three months. Manufacturers expect output to be broadly flat in the coming quarter, with 24 percent predicting growth, and 25 percent a decline, giving a balance of -1 percent.

"While the thick fog of uncertainty from a No Deal Brexit has lifted somewhat, the manufacturing sector remains under pressure from weak global trade and a subdued domestic economy," Anna Leach, CBI deputy chief economist, said.

When taking into account the deteriorating outlook for manufacturing globally, it is clear that the outlook for the sector remains precarious, Leach added.

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