MNI BRIEF: Japan Govt Keeps Econ View, Cuts Exports

MNI: PBOC Conducts CNY200 Bln via MLF Thurs; Rate Cut

MNI: PBOC Sets Yuan Parity Lower At 7.1321 Thurs; -1.92% Y/Y

CHINA PBOC CONDUCTS CNY235.1 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1321 THURS VS 7.1358

MNI China Daily Summary: Wednesday, July 24

MNI: UK JUL CBI INDUSTRIAL TRENDS TOTAL ORDERS -32

Broad-Based IFO Weakness Reinforces Narrative of Recovery Stall

CBR Data Watch

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

CBI Price Expectations for Three Months Ahead Lowest Since December 2020

UK DATA
DataHomepagemarkets-real-timeData BulletBulletMarketsFixed Income BulletsForeign Exchange Bullets

UK CBI Order Books Balance fell more than expected printing -32 (vs -20 consensus, -18 prior) in July, again remaining below the long run average of -13%.

  • Expectations for average selling price for next three months softened to 2 (from 20 in June) - making it the lowest reading since December 2020, and below the long term average of 7 for first time since December 2023.
  • This drop in average selling price expectations (if sustained in the coming months) will be welcomed by the MPC. One of the concerns recently has been that core goods disinflation will soon come to an end. If this is not the case, services inflation may not need to be as low as previously expected to keep inflation around target levels. However, there remain upside risks from supply chain and shipping disruptions.
  • Survey conducted between 25 June and 12 July, with 257 manufacturing firms responding.


149 words

To read the full story

Close

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.

UK CBI Order Books Balance fell more than expected printing -32 (vs -20 consensus, -18 prior) in July, again remaining below the long run average of -13%.

  • Expectations for average selling price for next three months softened to 2 (from 20 in June) - making it the lowest reading since December 2020, and below the long term average of 7 for first time since December 2023.
  • This drop in average selling price expectations (if sustained in the coming months) will be welcomed by the MPC. One of the concerns recently has been that core goods disinflation will soon come to an end. If this is not the case, services inflation may not need to be as low as previously expected to keep inflation around target levels. However, there remain upside risks from supply chain and shipping disruptions.
  • Survey conducted between 25 June and 12 July, with 257 manufacturing firms responding.