Market news
19.11.2019, 11:21

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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