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UK manufacturing stalls in September, outlook weak: CBI
[LONDON] British manufacturing output failed to expand in the three months to September for the first time since early 2013, adding to signs of a slowing in the country's economy, an industry survey showed on Tuesday.
The Confederation of British Industry said total orders and export orders deteriorated with demand from abroad falling back to its lowest level in six months.
The monthly total order book balance from the CBI's industrial trends survey slipped to -7 in September from -1 in August. Economists polled by Reuters had expected an unchanged reading.
Expectations for output over the next three months were the weakest since October 2013.
"Exports are the missing link in the UK recovery at the moment, with the strong pound squeezing manufacturers' margins, even though lower commodity prices are helping to ease cost pressures," Rain Newton-Smith, CBI director of economics, said.