British manufacturing output increased at its fastest rate since the mid-1990s over the past three months, despite orders slowing in July, an industry survey showed on Tuesday.
The Confederation of British Industry’s quarterly balance for manufacturing rose to +31 in the three months to July, the highest reading since January 1995 and up from +22 in the three months to April.
In July alone, however, new orders slowed slightly more than expected, with the CBI’s monthly balance slipping to +10 from +16 in June.
Central Banks Back in Focus on Tuesday
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.