• Monday, August 15, 2022

Business

GROWTH IN UK FACTORY ORDERS SLIP THREE-MONTH LOW IN AUGUST

Growth in UK Factory Orders Moves Down to 3 Month Low in August .

By: Radhakrishna N S

Growth in UK factory orders slightly moved down to a three month low in August amid robust export business, said the Confederation of British Industry (CBI) in a report on Tuesday (21). CBI’s monthly factory orders balance declined to +7 from +11 in July, according to the data released. Companies’ expectation for manufacturing output over the next three months, and anticipation of prices moved up to the highest mark since May, the report said. “While we expect UK manufacturers to continue benefitting from healthy external demand and a lower sterling exchange rate, overall economic growth is expected to remain subdued, reflecting weak…

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