UK manufacturing orders logged its strongest upturn since late 2017, survey results from the Confederation of British Industry showed on Thursday.
According to the latest Industrial Trends survey results, the total order book balance rose to +17 percent in May from -8 percent in April. This was the highest since December 2017.
Meanwhile, the export order book balance was broadly unchanged at -17 percent.
The survey showed that output volumes grew at the fastest pace since December 2018. The corresponding balance advanced to +18 percent from +3 percent in April.
A net balance of 33 percent expects output to accelerate further in the next three months.
Manufacturers expect output price growth to accelerate rapidly in the next three months, with the balance rising to +38 percent from +27 percent in April, marking the strongest expectations since January 2018.
The material has been provided by InstaForex Company – www.instaforex.com