Industrial orders rebounded in August and export orders were well above their long-run average according to the CBI industrial trends survey. The August reading was minus 1 for total order books, up from minus 10 in July. It was the highest reading since April an well above the series average of minus 15. The export orders balance rose to minus 8 from minus 17 in July, the highest since May and again markedly higher than the series' average of minus 20.
The survey highlights the decline in inflationary pressure, with the average prices balance for the next three months falling to minus 6 in August from 1 in July.
CBI conducts a monthly survey of senior manufacturing executives on trends in output, prices, exports, and costs. The CBI's quarterly Industrial Trends Survey collects data on topics like current business confidence, capacity utilization and investment intentions.
Started in 1958, this is the UK's longest-running private sector qualitative business tendency survey. The survey is used by policy makers along with those in the business community, academics and top analysts in financial markets. One of its key strengths is that it is released within ten days and prior to official statistics and includes data not covered by official sources. It is never revised. The data are also used by the European Commission's harmonized business survey of EU countries.
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