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.
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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.