Latest data released by the Confederation of British Industry - 23 January 2019
- Prior 8
- Trends selling prices 18 vs 12 expected
- Prior 14
Readings above 0 indicates optimism while below indicates pessimism. The headline is a survey on manufacturers to rate the level of volume for orders expected during the next 3 months.
There's quite a number of negatives in the report here with the order book balance i.e. headline reading falling to a 3-month low for starters. The export order balance fell to -5 from +14 in December and is the weakest print since February 2017.
Meanwhile, the quarterly export optimism balance fell to -32 from the October reading of -15 and the quarterly manufacturing optimism balance fell to -23 from the October reading of -16. That's the most pessimistic manufacturers have been since 2016.
The data point here isn't a major release by any means but it further indicates the sort of toll that Brexit uncertainty is having on the UK economy and its outlook. As it stands, Q1 2019 doesn't look like it's going to be a good quarter for the UK economy.
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