Forex News

Production orders in the UK declined in September

Production orders in the UK declined in September amid a decline in the number of export orders, a study of industrial trends by the Confederation of British Industry showed. p>

The total balance of book balances fell to -1 percent for the three months inclusive September, in contrast to the forecast of +4 percent. The balance of books of export orders was + 5%. P>

Industrial producers expect that in the next quarter the volume of production will grow at an accelerated pace, the corresponding indicator was + 19%. p>

The balance of companies expecting the growth of average selling prices in the next three months, fell to + 13% against + 15% in August. p>

"The increased fears of Britain's withdrawal from the EU without a trade agreement have prompted some firms to move from contingency planning to action," said Anna Leach, head of the economic intelligence division at CBI. p>

"Looking ahead to the Autumn Budget, the reform of the business course, coupled with the movement of capital surcharges, can help stimulate productive investments on this uncertain background." p>