–UK CBI: Aug Total Orders +1 Vs -10 In Jul
–UK CBI: Aug Output Volume +13 Vs +6 In Jul
–UK CBI: Aug Average Prices +9 Vs +4 In JUl
–UK CBI: Aug Export Orders Zero Vs -8 In JuL
LONDON (MNI) – Manufacturing orders rebounded in August after
dropping sharply in July, according to the latest Confederation of
British Industry monthly Industrial Trends survey.
The survey manufacturing continuing to expand in the third quarter
although the rate of expansion appears to have eased from levels seen
earlier this year.
The total orders balance in the August survey rose to 1 from July’s
-10, while output volumes rose to 13 from 6 in July.
Price pressures have eased following high pipeline inflation in the
first half of this year.
The average prices balance for the next 3 months rose slightly to 9
in August, but was well below the 36 peak seen in April.
The export orders balance came in at zero, having fallen to -8 in
July. The data suggest the very weak July numbers were a blip.
July’s UK manufacturing PMI dropped to a point that showed the
sector shrinking for the first time in a little over two years. The July
CBI quarterly manufacturing survey showed optimism fell sharply and
orders and prices balances hit multi-year lows.
Richard Woolhouse, CBI head of fiscal policy, said “manufacturing
order books are holding up and expectations for output growth are above
their historical average, although they are less strong than earlier
this year.”
The survey showed manufacturing stocks rising, which could weigh on
future growth, with the stocks balance climbing to 14, its highest level
since December 2009.
–London bureau: 44 20 7862 7491; email: ukeditorial@marketnews.com
[TOPICS: M$B$$$,MABDS$]
