UK DATA: CBI Monthly trends: Oct total orders -23% vs -8% Sep
–UK CBI: Oct quarterly business optimism -12% vs -6% Jul
–UK CBI: Ind. trends: Oct avg expected prices +7% vs +3% Sep
–UK CBI: Ind. trends: Oct export orders -22% vs -10% Sep
–UK CBI: Oct expected output volume +12% vs +7% Sep
–UK CBI: Total orders well below median forecast of -7%
–UK CBI: Oct quarterly export optimism -19% vs -3% Jul
–UK CBI: Oct quarterly firms below capacity 57% vs 52% Jul
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UK manufacturing saw a sharp fall in output and optimism at the
start of the fourth quarter, according to the CBI’s monthly and
quarterly October surveys. The CBI attributed the downturn in part to
concerns over the darkening of the economic and political outlook
overseas. The Oct orders balance was well below the -7 median forecast.