survey by the Confederation of British Industry (CBI) showed on Tuesday the UK
manufacturers’ order books rose in November but remained significantly below
their long-run average.
According to the report, the CBI's monthly factory order book balance increased to -26 in November from -37 in the previous month. Economists had expected the reading to improve to -31.
According to the report, export order book gauge also strengthened on the previous month, reaching -22, up from -41 in October, but also continued to be below the long-run average of -17. Meanwhile, stocks of finished goods jumped to +17 from +11, exceeding the long-run average of +13%.
. Anna Leach, CBI Deputy Chief Economist, noted: “While the thick fog of uncertainty from a No Deal Brexit has lifted somewhat, the manufacturing sector remains under pressure from weak global trade and a subdued domestic economy.”
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