UK June factory orders hit best month since 1988 - CBI survey
Manufacturing performance may encourage BOE to raise interest rates
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London
BRITISH factory orders have hit their highest level in nearly 30 years, according to a monthly Confederation of British Industry (CBI) survey which might encourage Bank of England policymakers who favour an interest rate hike.
The CBI said its factory order book balance jumped to +16 in June, its highest level since 1988. Economists taking part in a Reuters poll had expected a weaker reading of +7 compared with +9 in May.
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