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UK: Week Ahead

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UK Dec Industry Order Books Joint Highest Since Aug 1988: CBI 

-UK CBI Dec Total Industrial Order Book Balance 17%; Unchanged Vs Nov; Joint
Highest Since Aug 1988
By David Robinson
     LONDON (MNI) - The UK manufacturing sector saw December order book balances
hold steady at their joint highest level since August 1988, the CBI's Industrial
Trends survey found.
     A net 17% of manufacturers reported total order books above normal in
December, matching the November balance and the highest outturn since August
1988. The export order balance dipped to +16 in December, falling back from +20
in November - the highest outturns since June 1995. Both total and export
balances sit way above their long run averages of -14 and -18 respectively.
     The output volume balance for the fourth quarter came in at +30, up from
+28 in November and matching the August outturn. The outlook for output volume
for the first quarter of 2018 was softer, with the December balance for the next
three months' output at +13, unchanged from November.
     These data suggest manufacturing has had a robust fourth quarter, but it
remains to be seen if its output growth will be undermined by the dominant
services sector and construction. 
     The National Institute of Economic and Social Research estimated that the
economy in November was growing at 0.5% quarter-on-quarter but Bank of England
staff reckoned that Q4 growth may even be slightly weaker than the 0.4% seen in
Q3, although the Bank will update this estimate.  
--MNI London Bureau; tel: +44 203-586-2223; email: david.robinson@marketnews.com
--MNI London Bureau; +44 203-586-2226; email: jamie.satchithanantham@marketnews.com
[TOPICS: MABDS$,M$B$$$,M$E$$$]
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Data StoriesImpactDataPolicy NewsSpainCEEMEAEurozoneGermanyFranceItalyBank Of England (BOE) Market NewsUKRegion
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