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UK DATA IMPACT: More Brexit Stockpiling Evidence Among UK Mfg

MNI (London)
By Shaily Mittal
     LONDON (MNI) - Manufacturing output growth was steady in three months to
May, but weaker than the last year average, the CBI Industrial Trends Survey
published Tuesday shows.
     -- Stocks of finished goods was significantly high, giving further evidence
that manufacturers have been stockpiling, as part of their Brexit contingency
plans.
     -- Orders (total and export) came in below April levels, which were already
weak, but just above long-run average.
     -- Expectations for output price inflation in the next three months at -1
vs +1 in April and +19 in May last year, the lowest level since March 2016.
     -- Manufacturers expect output volumes to be roughly flat in the next three
months. Percentage Balance improved from -2% in April to +3% in May.
--MNI London Bureau; tel: +44 203-586-2224; email: shaily.mittal@mni-indicators.com
--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com
[TOPICS: M$B$$$,M$E$$$]
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com

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