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Financial News: UK Manufacturing Orders Growth Strongest On Record: CBI

UK Manufacturing Orders Growth Strongest On Record: CBI

09/21/2021 - 06:28:00 (RTTNews)

(RTTNews) - UK manufacturing orders grew the most on record in September, survey data published by the Confederation of British Industry showed on Tuesday.

The order book balance rose to 22 percent in September from 18 percent in August, the Industrial Trends Survey revealed. This was the strongest growth in orders since April 1977.

At the same time, the export order book balance advanced to -2 percent, the highest since March 2019, from -16 percent in August.

However, output growth in the three months for September slowed for the second month in a row. The balance fell to +16 percent from +22 in August. A balance of 25 percent expects output growth to accelerate in the next three months.

"Today's survey highlights how amidst a variety of supply challenges, companies are beginning to struggle to meet high demand, Anna Leach, CBI deputy chief economist, said. Despite close to half of manufacturers surveyed reporting order books above normal, output growth has slowed sharply, albeit remaining relatively robust.

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