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- UK CBI INDUSTRY TRENDS: AUG TOTAL ORDER -44% V -46% JUL
- Industry Output Next 3M: -10%; Prev(JUL ): +15%
- Industry Output Past 3M: -46%; Prev(JUL ): -59%
- Avg Prices Next 3M: -5%; Prev(JUL ): +4%
Total order books ticked up only marginally in Aug and remains significantly below Feb's level. Similarly, export orders recovered slightly but registered well below their long run average. Output volumes again declined sharply, although at a slower pace than in the previous month. Nevertheless, output fell in 16 out of 17 sub-sectors with mechanical engineering, food, drink & tobacco, and motor vehicles & transport equipment driving the decline. Output expectations deteriorated in Aug compared to Jul, however manufacturers forecast output to drop at a slower pace in the next 3 month than currently. According to the survey, manufacturers stated that output is 23% below normal conditions due to the pandemic.