-Manufacturers See Subdued Rise In Output In Coming Months
LONDON (MNI) – UK manufacturers reported rebounding order books in
June and a drop in price expectations, which should cheer the Bank of
England, according to the Confederation of British Industry.
The bounce followed some softening in orders in May and was well
above the long-run average, the CBI said.
Total order books stood at a net balance of -11 in June, up from
the -17 seen in May although still weaker than the -8 seen in April.
Manufacturers’ output expectations improved this month, with
balance of 7 compared with -3 in May, though this level is still well
below that seen earlier this year.
Other good news included a drop in average price expectations to 2
from 12 in May and the lowest since November 2011, the CBI said.
Moderation in prices was most marked in the consumer goods sector.
Despite facing continued instability within the euro area, UK
manufacturers have seen a modest rebound in orders from both their
domestic and export markets as a result, firms are expecting output to
pick up over the next quarter although the pace of growth is still
expected to be somewhat lower than earlier in the year.
-London Bureau; Tel: +442078627492; email: dthomas@marketnews.com
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