UK Factory Orders Fall but Exports Gain Offsetting Losses

Manufacturers have reported a fall in orders this month, but the slide has been less than expected after exports rose to their highest level in two years.

A survey by the business lobby group the CBI found that the dive in sterling, prompted by the vote to leave the EU, gave a strong boost to exports of manufactured goods that offset uncertainty in the domestic market.

The survey found that total order books were slightly weaker than in the three months to July, down from a balance of -4 in the three months to July to -5 in August.

But the overall picture was of an industry with orders that remained “comfortably above the long-run average” and with output growth “at a healthy pace”.

via The Guardian

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza