The CBI's December industrial trends survey suggests manufacturing ended the year on a particularly weak note. At minus 23 percent, the headline orders balance was up 12 percentage points versus November to claim a 3-month high. However, for the fifth straight month, it remained well short of its long-run average (minus 13 percent).

Output volumes (0 percent after minus 17 percent) stabilised at low levels and are expected to rise only marginally (5 percent) next quarter. Weak demand is similarly seen keeping downward pressure on selling prices (7 percent after 11 percent) which matched their lowest mark since February 2021. The CBI also noted an ongoing issue with skills shortages.

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