Latest data released by UK CBI - 22 June 2020
- Prior -62
- Trends selling prices -10
- Prior -20
The headline reading is off the lows seen in May but it is still extremely subdued relative to historical levels. Of note, CBI states that output volumes for the past three months going into June were the weakest since records began since 1975.
Meanwhile, export orders balance for June fell to -79, which is the weakest since the measure was recorded dating back to 1977. But at least output expectations did improve slightly to its highest levels since March but we'll see if the optimism will be justified.
The CBI readings are a survey on manufacturers to rate the level of volume for orders expected during the next 3 months.
