Financial News: UK Manufacturers Expect Output To Expand: CBI

UK Manufacturers Expect Output To Expand: CBI

11/21/2024 - 06:53:00 (RTTNews)

(RTTNews) - The UK manufacturers expect output volumes to increase moderately in the three months to February, survey results from the Confederation of British Industry showed on Thursday.

In the three months to November, output volumes decreased at a faster pace than in the previous quarter. The corresponding balance slid to -12 percent from -6 percent in the preceding period, the latest Industrial Trends Survey revealed.

However, a net 9 percent of manufacturers expect output to increase in the three months to February.

Further, data showed that order book balance improved to -19 percent from -27 percent in the prior period. Nonetheless, this was below the long run average of -13 percent.

Regarding prices, the survey showed that expectations for average selling price inflation rose to 11 percent from zero in October.

"Output has underperformed expectations in recent months, with manufacturers pointing to uncertainty around the UK Budget, the US elections and recent political instability in Europe as among the factors leading customers to pause or cancel orders," CBI Lead Economist Ben Jones said.

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