The CBI's new industrial trends survey found demand still falling in September. At minus 18 percent, down from August's minus 15 percent, the headline orders index saw its weakest level since April but at least matched the market consensus. The latest reading means the measure has still been sub-zero every month since August 2022 and is also now further below its long-run average (minus 13 percent).

The September data leave the UK's RPI at a lowly minus 49 and the RPI-P at just a marginally firmer minus 47. Both gauges show overall economic activity running well behind market expectations and so provide additional support for Thursday's decision by the BoE MPC to leave policy on hold.

The headline orders balance is expected to dip 0.3 percentage points to minus 18 percent in September.

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