The Confederation of British Industry reported the UK industrial orders and the figure unexpectedly surged to 6 vs. the forecast of -5. For your info, it’s a survey of 366 manufacturers and it reports that both total and export order books strengthened modestly in the previous month while remaining comfortably above their respective long-run averages.

Output volume growth slowed in the three months to February to a pace roughly in line with its long-run average. Output expanded in over half (9 out of 17) of the sub-sectors, with growth largely driven by the chemicals and food, drink & tobacco sub-sectors.

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