–UK CBI: Sep Total Orders -9 Vs +1 In Aug
–UK CBI: Sep Output Volume +9 Vs +13 In Aug
–UK CBI: Sep Average Prices +13 Vs +9 In Aug
LONDON (MNI) – UK manufacturing order books declined in September
but manufacturers expect output to continue to grow in months to come,
according to the latest Confederation of British Industry survey.
The September survey showed average prices nudging up, output
volumes remaining in positive territory but order book balances turning
negative. Export orders weakened, a reflection of the deterioration in
overseas demand.
The orders balance for September fell to -9 from 1 in August,
slightly worse than analysts’ median forecast for -6.
UK manufacturers predicted production would continue to grow over
the next 3 months despite order book levels declining. The output
volumes balance came in at 9 in September compared to 13 in August.
The export orders balance dipped to -12.
Ian McCafferty, CBI chief economic adviser, said “UK manufacturers
reported slacking in demand this month, following the volatility in
financial markets and the slowdown in growth in our major trading
partners.”
“As a result firms now say stock levels are high relative to
expected demand,” he added.
–London bureau: 44 20 7862 7941; email: ukeditorial@marketnews.com
[TOPICS: M$B$$$,MABDS$]
