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- UK manufacturers’ order book balance improves in November
UK manufacturers’ order book balance improves in November
The latest
survey by the Confederation of British Industry (CBI) showed on Tuesday the UK
manufacturers’ order books rose in November but remained significantly below
their long-run average.
According to
the report, the CBI's monthly factory order book balance increased to -26 in November
from -37 in the previous month. Economists had expected the reading to improve
to -31.
According to
the report, export order book gauge also strengthened on the previous month,
reaching -22, up from -41 in October, but
also continued to be below the long-run average of -17. Meanwhile, stocks of
finished goods jumped to +17 from +11, exceeding the long-run average of +13%.
. Anna Leach, CBI Deputy Chief Economist, noted:
“While the thick fog of uncertainty from a No Deal Brexit has lifted somewhat,
the manufacturing sector remains under pressure from weak global trade and a
subdued domestic economy.”
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