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- UK manufacturers’ order book balance declines further in October
UK manufacturers’ order book balance declines further in October
The latest
survey by the Confederation of British Industry (CBI) showed on Tuesday the UK
manufacturers’ order books fell in October to the lowest level since March
2010.
According to
the report, the CBI's monthly factory order book balance decreased to -37 in October
from -28 in the previous month. Economists had expected the reading to stay at
-28.
According to
the report, export order book gauge dropped to -41 from -32 in September, while
the index of stocks of finished goods declined to +11 from +28 and the measure
of the manufacturers’ output expectations in the next three months remained subdued
at -16 compared to -19 in September.
The survey also revealed that the share of manufacturers citing political/economic conditions abroad as a factor to limit export orders in the next three months was at a survey record high (66%).
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