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- CBI industrial order books balance drops to zero in March
CBI industrial order books balance drops to zero in March
The Confederation of British Industry (CBI) released its industrial order books balance on Monday. The CBI industrial order books balance dropped to zero in March from +10% in February.
Analysts expected the CBI industrial order books balance to decrease to +9%.
The decline was driven by a stronger pound and a weak economy in the Eurozone.
The CBI's director for economics Rain Newton-Smith said that "sluggish export performance seems to be a headache that won't go away".
He noted that "measures in the budget to support exporters should be a welcome boost for the sector's longer-term prospects".
Volume of output for the next three months fell to +22 in March, down from +25 in February.
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