UK manufacturing output stabilises in August - CBI
By Michele Maatouk
Date: Tuesday 20 Aug 2019
(Sharecast News) - Output in the UK manufacturing sector stabilised in August following a drop the previous month, according to the latest survey form the Confederation of British Industry.
The CBI's total orders balance came in at -13 this month from -34 in July, beating expectations for a reading of -23 and in line with the long-run average. Total order books and export order books were reported as below normal, but to a lesser extent than in July.
Looking ahead, manufacturers expect output volumes to remain flat over the next three months, while output prices are seen steady and expectations for inflation are at their lowest since February 2016.
Anna Leach, CBI deputy chief economist, said: "Despite signs of stabilisation in the data this month, UK manufactures remain on the receiving end of a double whammy: the slowdown in the global economy and Brexit uncertainty. Trade tensions between nations such as China and the US only exacerbate the demand uncertainty facing UK manufacturers.
"As we get closer to October, it's crucial that the new Prime Minister secures a Brexit deal ahead of that deadline and gets on with pressing domestic priorities, from improving our infrastructure to fixing the apprenticeship levy."
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