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Growth in UK factory orders cools to four-month low in Feb

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Growth in British factory orders cooled to a four-month low in February as exports slowed, although the overall picture of manufacturing remained healthy, a survey showed on Tuesday.

[LONDON] Growth in British factory orders cooled to a four-month low in February as exports slowed, although the overall picture of manufacturing remained healthy, a survey showed on Tuesday.

The Confederation of British Industry's (CBI) monthly order book balance eased to +10 from +14 in January, as expected in a Reuters poll of economists.

British exporters have benefitted from a pickup in the global economy and a fall in the value of the pound after the 2016 Brexit vote.

"Although order books weren't quite as buoyant as they were last month, demand remains strong and output grew briskly," CBI head of economic intelligence Anna Leach said.

sentifi.com

Market voices on:

"With the Brexit negotiations reaching a critical juncture, many businesses are concerned about future barriers to trade and are looking for clarity over the future relationship with the EU." Earlier on Tuesday, the EEF manufacturing association said many companies were confused about what Britain's exit from the European Union would mean for them.

The CBI's expected factory prices balance fell to +25 in February after hitting a 34-year high of +40 last month.

REUTERS

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