UK Data: Industry Orders Fall To Lowest Since Oct 2010

London, MNI – The UK industrial sector saw total and export orders
fall in December to their lowest levels since last year, as the euro
area crisis bit.

December industry total orders fell to -23 from -19 in November,
hitting their lowest level since October 2010 while export orders
dropped to -32 from -31, hitting their lowest level since January last
year. The data show the industrial sector, which outperformed services
when the UK recovery started, is slipping back into contractionary
territory.

Ian McCaffery, chief economic adviser for the CBI, said “The weaker
export performance no doubt reflects ongoing instability in the euro
area, our biggest export market, and its knock-on impact on prospects
for the real economy.”

Output volumes remained in the red, with the balance -8, unchanged
from November.

Despite the fall in orders average prices picked up, with the price
balance rising to 7 from 2 in November.

— London newsroom: 207 862 4799; e-mail: ukeditorial@marketnews.com

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