LONDON (MNI) – UK manufacturing order books declined in November
with export order hit by the Eurozone crisis, according to the
Confederation of British Industry.
The CBI’s November monthly industrial trends survey showed total
order books fell to their lowest level since October last year and
export orders to their lowest level since January 2010.
The November total orders balance fell to -19 from -18 in October,
the output volume balance rose to -8 from -11 while the export orders
balance plunged to -31 from -14.
Inflation is fading, with the prices balance just above flat.
The CBI said Eurozone turmoil was weighing on the sector.
“In response to weaker demand, firms still expect to cut back on
production. With heightened uncertainty over global prospects and
business confidence falling sharply, it is very possible that factories
will see production further in the near term,” Ian McCafferty, the
CBI’s chief economic adviser, said.
–London bureau: 44 20 7862 7941; email: drobinson@marketnews.com
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