UK July CBI trends total orders -34 vs -15 expected
Latest data released by CBI - 23 July 2019
- Prior -15
- Trends selling prices +12
- Prior +4
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. The backlash from Brexit stockpiling in Q1 continues as the headline reading falls to its weakest level since April 2010 now.
Looking at the details, new orders balance were at their lowest level since January 2012 (falling to -15) while both manufacturing and domestic export orders slumped to their weakest level since July 2009.
Of note, business optimism also fell further (-32 compared to -13 in June) and that highlights added concerns surrounding the UK factory/manufacturing sector to start Q3.