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UK factory orders show best performance since July 2023, CBI survey shows
The CBI said domestic demand and output improved, while expected prices cooled and export orders stayed below normal.
- On Tuesday, a Confederation of British Industry survey revealed British manufacturing orders reached their highest level since July 2023, with the total order books balance rising to-9 percent in September.
- British factory orders jumped 36 points over the last two months alone, marking the largest rise since records started 49 years ago according to the Industrial Trends survey.
- CBI senior economist Cameron Martin said, "There are growing signs that conditions are stabilising for manufacturers," though export order books remained below 'normal' at-9 percent in September.
- Expectations for output in the months ahead improved to their highest level since March, while expected prices cooled to +12 from +22 in August.
- This report adds to recent signs of resilience in Britain's economy alongside solid increases in manufacturing output and recent Bank of England policy decisions.
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