LONDON (MNI) – A reweighting of industrial sectors surveyed in the
monthly Confederation of British Industry manufacturing trends survey
will make little change to the headline results.
The latest CBI industrial trends survey is due to be released next
Tueday July 20 at 1000GMT.
CBI says that the reclassification of some sectors in the survey
will bring it into line with industry classifications used in other UK
data releases.
“For example, under the previous classification, manufacture of Food
and Beverages was grouped into one Division, but under SIC(2007) they
are now separated. Meanwhile, textiles now makes up a smaller share of
the manufacturing sector as a whole, and its weight within the ITS data
calculation has shrunk accordingly”.
The difference between the “new” and “old” weighted ITS survey data
will be ‘statistically insignificant’, the CBI said.
The CBI has made only three subsector changes to its survey
classification: ‘Capital Goods’ is now ‘Investment Goods’, ‘Paper,
Printing & Publishing’ changes to ‘Paper, Printing & Recorded Media’
(with Publishing no longer classified under Manufacturing) and
‘Textiles’becomes ‘Textiles and Clothing’.
The CBI said that as of July 2010, the ITS results will use the new
sector classifications spliced onto existing historical data.
In the previous CBI trends release for June, total orders fell to a
balance of -23 from -18 in May. The output balance dipped slightly to
+15 from +17 in May.
–London Bureau; Tel: +442078627492; email: wwilkes@marketnews.com
[TOPICS: M$B$$$, MABDS$, MABPR$]