-UK CBI Monthly industrial trends: Dec total orders -12 vs -21 Nov
-UK CBI Dec expected output volume 0 Vs -9 Nov
-UK CBI Dec Average Expected prices +17 Vs +8 Nov
-UK CBI Dec export orders -11 vs -12 in Nov
LONDON (MNI) – UK manufacturers’ orders books showed a sharp
improvement in December from November, adding to the evidence from the
last purchasing managers’ survey that while the sector may still be
contracting, it is doing so only slowly.
In the CBI’s December monthly survey, the headline total orders
balance fell to -12 from -21 in November, well above economists’ median
forecast of -17. The expected output balance came in at zero, up from -9
in November, pointing to stability ahead.
Manufacturers had been gloomy about prospective output. The
expected output volume balance in November dropped to -9 from October’s
12, hitting its lowest level since October last year.
Anna Leach, the CBI’s Head of Economic Analysis, said “December’s
survey reports a welcome improvement in manufacturers’ order books and
their expectations for output. Even so, they remain hesitant in
predicting further output growth and are keeping stock levels low.”
The stocks relative to demand balance nudged up to 6 in December
from 5.
“Conditions in the sector and the wider economy are likely to
remain fragile until global conditions improve over the course of 2013,”
Leach added
The purchasing managers indices have shown the UK manufacturing
sector contracting, although the November outturn was more upbeat than
in previous months, rising to 49.1 from October’s 47.3, its highest
outturn since August and just below the 50 breakeven level.
Weak overseas demand, however, continues to weigh on manufacturing.
The December CBI export orders balance fell to -11 from -12.
-London Bureau; Tel: +442078627491; email: drobinson@marketnews.com
wwilkes@marketnews.com
[TOPICS: M$B$$$,M$BDS$,MABDS$]
