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- UK manufacturers’ order book balance declines in September
UK manufacturers’ order book balance declines in September
The latest
survey by the Confederation of British Industry (CBI) showed on Tuesday the UK
manufacturers’ order books remained below normal in September, and to a much greater
extent than in August.
According to
the report, the CBI's monthly factory order book balance decreased to -28 in September from -13 in the previous month. Economists had expected the reading to drop to
-18.
According to
the report, export order book gauge also declined sharply to -32 from -15 in
August, compared to a long-run average of -17. Meanwhile, the present stocks of
finished goods were reported as above adequate (+28, the highest balance since
May 2009).
The survey also revealed the measure of manufacturers’ output expectations in the coming quarter fell to -19, the lowest balance since April 2009. Expectations for growth in average selling prices for the coming three months (+12) accelerated to pace above the long-run average of +3.
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