MNI: UK Manufacturing Output, Order Growth Eases In Mar: CBI

-March Total Order Book Balance +4% Vs +10% Feb

By David Robinson

     LONDON (MNI) - Growth in UK  manufacturing order books and output volumes

slowed in March, a survey from the Confederation of British Industry showed. 

     The March total order book balance fell to a net 4% from 10% in February,

with the export order balance holding steady at 10% and output volume balances

for the past three months dipping to 16% from 24%. These data suggest that

despite a softer March the sector as a whole has seen further solid expansion in

the first quarter.

     "Robust global growth and the low pound have gifted UK manufacturers a

strong first quarter in 2018," Anna Leach, CBI Head of Economic Intelligence,

said.

     The balance for expected output volume for the next three months, the

second quarter, was 13%, down from 16% in February, above the long-run average

of 9%. 

     The survey showed pipeline inflation pressures easing, although still

elevated. A net 18% of manufacturers expected average prices to rise over the

next three months, down from a net 25% in February and 40% in January and back

in line with the readings in September and October last year. The long run

average prices balance is just 2%.

     Manufacturers have built up stock levels, with the net 20% balance for

above adequate stocks the first reading above the long run average of 13% since

September 2016.  

--MNI London Bureau; tel: +44 203-586-2223; email: david.robinson@marketnews.com

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