Manufacturing Order Books at Post-Brexit High

British manufacturers reported their healthiest order books in November since before the Brexit vote and they are their most confident about the near-term outlook in nearly two years, an industry survey showed on Tuesday.

But the Confederation of British Industry also said manufacturers intend to raise prices at the fastest pace in almost three years, reflecting the sharp fall in the value of the pound since voters decided to leave the European Union in June.

The CBI said its monthly industrial orders balance improved to -3 in November, its highest level since June, and up sharply from -17 in October. Economists polled by Reuters had expected a more modest improvement to -9.

Reuters

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Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.