- Analytics
- News and Tools
- Market News
- UK manufacturers’ order book balance drops to lowest level since October 1981 in May
UK manufacturers’ order book balance drops to lowest level since October 1981 in May
The latest
survey by the Confederation of British Industry (CBI) revealed on Thursday the
UK manufacturers' order books deteriorated further in May.
According to
the report, the CBI's monthly factory order book balance fell to -62 in May
from -56 in the previous month. That was the lowest reading since October 1981.
Economists had forecast the reading to come in at -59. Export order books dropped
to their lowest since October 1998 (-55 from -49 in April).
The CBI also reported
that output in the quarter to May (-54 from -21 in April) fell at the fastest
pace on record since 1975 and is expected to decline at a slightly slower pace
in the next three months (-49). Meanwhile, the average selling prices for the next
three months (-20 from -11 in April) are expected to decrease at the fastest
pace since April 2009.
Anna Leach, CBI
Deputy Chief Economist, noted: “These results show that UK manufacturers are
still grappling with the impact of the pandemic. Production levels have fallen
even more sharply as firms experience collapsing demand and supply chain
disruption, leading some to temporarily shut down their factories. The sector
is bracing for what will be a challenging period.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
