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  • UK manufacturers’ order book balance improves more than predicted in November, - CBI’s report shows
Ekonomické zprávy
21.11.2024

UK manufacturers’ order book balance improves more than predicted in November, - CBI’s report shows

The survey by the Confederation of British Industry (CBI) revealed on Thursday that the UK manufacturers' order books improved in November relative to October.

According to the report, the CBI's monthly factory order book balance jumped to -19 this month from -27 in the previous month. The November figure was the highest in five months but remained below both “normal” and its long-run average (-13).

Economists had expected the reading to increase to -25.

The survey also showed that the manufacturing output volumes declined in the three months to November at a faster pace than in the quarter to October (-12, compared to -6 in the three months to October), but were expected to rise in the three months to February (+9).

In other survey results, expectations for average selling price inflation heightened in November (+11, compared to 0 in October), slightly exceeding the long-run average (+7). Stocks of finished goods were considered as more than “adequate” in November (+21, compared to +17 in October), with the balance being the highest since August 2020.

Commenting on the results of the latest monthly CBI Industrial Trends, Ben Jones, CBI lead economist, noted that output had underperformed expectations in recent months, with manufacturers pointing to uncertainty around the UK budget, the U.S. elections and recent political instability in Europe as among the factors leading customers to pause or cancel orders. “Many firms still need to work through the implications of the Budget for their own plans for pay, hiring and investment, but it’s an encouraging sign that output volumes are expected to return to growth in the quarter ahead, with order books also showing some improvement this month,” he added.

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