UK CBI industrial order expectations improved to -26 in November, up from -37 and beat expectation of -30. 13% of manufacturers reported total order books to be above normal, but 40$ said they were below, giving a rounded balance of -26%. It remains well below long-run average of -13%.
Anna Leach, CBI Deputy Chief Economist, said: “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. Order books remain below average, and output volumes continue to fall. When taking into account the deteriorating outlook for manufacturing globally, it’s clear that the outlook for the sector remains precarious.
“The General Election is an opportunity for all parties to explain how they will shore up our economy. Ratifying a Brexit deal and moving on to build a vibrant future relationship with our biggest trading partner, based on frictionless trade, will be vital – both for UK manufacturers, and business as a whole.”