Market news
24.09.2019, 10:49

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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