Share

UK factory export orders drop - CBI

London - British factory export orders fell in the three months to October at the fastest pace since January 2013, according to a survey from the Confederation of British Industry published on Thursday.

In a sign of how the slowdown in the eurozone is hurting British manufacturers, the CBI's quarterly industrial trends survey showed its balance for the volume of export orders fell to -7 in October from a reading of zero in July.

The total new orders balance fell to +9 in the three months to October from +24 in July, hitting its lowest level in a year.

"It's disappointing that a sluggish exports market has taken some of the steam out of manufacturing growth, which was going from strength to strength throughout most of this year," said Rain Newton-Smith, director of economics at the CBI.

"However, growth in orders and output is expected to continue ahead, albeit with expectations moderating, and domestic orders have continued to rise at a healthy pace. And it is encouraging that job numbers are growing."

The CBI's monthly total order book balance fell to -6 in October, its lowest level since July last year and down from -4 in September.

Economists polled by Reuters had expected it to hold steady at -4.

The latest official data showed British industrial and manufacturing output rose 0.3% in June, weaker than forecast.

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.90
+0.2%
Rand - Pound
23.86
+0.2%
Rand - Euro
20.36
+0.3%
Rand - Aus dollar
12.31
+0.2%
Rand - Yen
0.12
+0.2%
Platinum
908.05
0.0%
Palladium
1,014.94
0.0%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent Crude
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders