The CBI's new industrial trends survey found demand contracting again in June, albeit at a slightly slower pace than in May. At minus 15 percent, the headline orders index was up 2 percentage points on the month. Even so, this was its sixth successive print below its long-run average (minus 13 percent).

On a positive note and in line with cooling seen earlier this morning in UK producer price data, the survey's measure of selling price expectations eased by 2 points to 21, still above its average of 7 but nevertheless the lowest rate since early 2021.

The Confederation of British Industry (CBI) produces a monthly survey (and a more detailed quarterly report) analysing the performance of UK manufacturing industry. This is the UK's longest running qualitative business tendency survey. Questions relate to domestic and export orders, stocks, price and output expectations with the main market focus being the domestic orders balance. The survey is seen as a loose leading indicator of the official industrial production data.

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.

Frequency
Monthly and quarterly