-UK CBI Monthly trends: Aug total orders -21 vs -6 Jul
-UK CBI: Aug output volume zero versus +11 Jul
-UK CBI Aug Average Expected Prices +1 vs -3 Jul
-UK CBI Aug Export Orders -17 vs -9 in Jul
-UK Aug Total order book lowest since December
LONDON (MNI) – UK manufacturers’ order books slumped in August,
after a surprisingly strong outturn in July.
The CBI’s total orders balance plunged to -21 in August from -6,
well below analysts’ median forecast for a -10 outturn and the lowest
outturn since December last year. The CBI highlighted the weakness in
demand in the consumer goods sector and some weakness in investment
goods.
The data add to the evidence the UK manufacturing sector has
stalled, having posted successive quarterly contractions in the official
data and that the more upbeat July survey from the CBI appears to be a
blip.
The output expectations balance for the next three months was zero,
down 11 in July. Prices are also expected to be near flat, with the
price expectations balance 1 compared to -3 in July.
Anna Leach, CBI head of economic analysis at the CBI, said “Overall
demand for manufactured goods has eased back this month led by a
weakening in the consumer goods sector following a strong July figure.”
“This sector also contributed to the weakening in output
expectations for the next 3 months, alongside investment goods.”
-London Bureau; Tel: +442078627491; email: drobinson@marketnews.com
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