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- UK factory order growth slows more than expected in March
UK factory order growth slows more than expected in March
The Confederation of
British Industry (CBI) released its monthly manufacturing survey on Wednesday,
which revealed the UK’s factory order book balance fell to +1 in March 2019
from +6 in the previous month. This was still comfortably above the long-run
average of -13%.
Economist had forecast
the reading to come in at+2.
According to the
report, expectations for output growth over the next quarter reduced softly (to
+7 from this month from +8 in February), while export order growth accelerated
(to +8 from +1). In addition, the present stocks of finished goods rose further
(to +11 from +10) and expectations for price inflation for the coming three
months weakened noticeably to their slowest pace since September 2016 (to +7 from
+22).
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