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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
UK DATA
MNI (London)
UK CBI MAY INDUSTRIAL ORDERS -17 (FCST -19); APR -20
UK CBI MAY INDUSTRIAL PRICES NXT 3 MONTHS +21 (= FCST); APR +23
The CBI industrial trends survey flagged a continued decline in manufacturing output and demand, albeit at a softer pace in May.
- Export order books declined markedly, whilst business sentiment deteriorated further implying pessimistic outlooks for the industry for a fifth consecutive month.
- This follows the May UK flash manufacturing PMI weakened to a five-month low in yesterday's release, indicating 10 consecutive months of contractive (sub-50) business activity. Manufacturing orders declined markedly, as firms flagged soft global demand, Brexit headwinds and stronger global competition for fewer orders driving a sharp fall in exports.
- The CBI report and PMI data point towards a Q2 contraction so far, with the CBI survey anticipating further declines in output over the next three months.
- Yet positive developments were evident in inflation expectations. Average price expectations for the coming three months eased to a two-year low. This echoes the April PPI data also published today, which showed PPI eased sharply to the lowest since February 2021.
Source: CBI
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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