UK Orders Book Balance Falls, Cost Pressures Ease: CBI
UK manufacturing output and orders remained stable in the three months to January, while average unit costs grew at the slowest pace since April 2021, the latest monthly Industrial Trends Survey from the Confederation of British Industry, or CBI, and Accenture showed on Tuesday.
Output volumes were almost stable in the quarter to January, with a weighted balance of -1 percent versus -9 percent in the three months to December. The survey showed that firms expect volumes to increase briskly in the next three months.
Total order book balance fell further below normal to -17 percent from -6 percent in October, suggesting that output has held up in part due to manufacturers tackling backlogs of work. Economists had expected a balance of -8. However, manufacturers expect new orders to rise over the next three months with a balance of +9 percent.
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