UK October CBI trends total orders -4 vs -12 expected

• Prior -2

The net order book balance among UK manufacturers fell by less than expected with expectations of price rises in the next three months also seen falling from +59 in September to +46 this month - that is the lowest since September last year. It is a positive development but overall sentiment remains gloomy with business optimism in Q4 (-48) sliding to its lowest since April 2020. CBI notes that:

"It's a tough time for manufacturers. Price pressures remain acute, availability of raw materials is still a big issue.

"It is 49 years since manufacturing firms were this worried about being able to find workers with the skills they need. It's really no surprise that sentiment has deteriorated further."

/GBP GBP The Great British pound (GBP) or pound sterling is the official currency of the United Kingdom, Jersey, Guernsey, the Isle of Man, Gibraltar, South Georgia, and other pacific territories.The GBP is currently the fourth most-traded currency worldwide in forex markets after the US dollar, euro, and Japanese yen.As the oldest currency in continual use, the GBP holds great weight on the world market and is also the fourth largest reserve currency.The Bank of England (BoE) is the central banking auth The Great British pound (GBP) or pound sterling is the official currency of the United Kingdom, Jersey, Guernsey, the Isle of Man, Gibraltar, South Georgia, and other pacific territories.The GBP is currently the fourth most-traded currency worldwide in forex markets after the US dollar, euro, and Japanese yen.As the oldest currency in continual use, the GBP holds great weight on the world market and is also the fourth largest reserve currency.The Bank of England (BoE) is the central banking auth Read this Term