UK Factory Orders Slow But Data Not as Bad as it Appears

Growth in British factory orders slowed to its weakest in almost a year this month, a monthly survey from the Confederation of British Industry showed on Monday, though firms were working at their closest to full capacity in 20 years.The CBI’s factory order book balance unexpectedly fell this month to -2, its lowest since November 2016, from +7 in September, below all expectations in a Reuters poll that on average forecast it would rise to +9.Output expectations fell to +19 from +28, the lowest since April, while export orders grew at the weakest since July – though both these still pointed to above-average growth.

Source: UK factory orders grow at slowest rate in 11 months – CBI – Reuters

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
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 Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. 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.