Market Updates: UK CBI Industrial Order Surged to 6 vs. -5 Forecast - Forex News by FX Leaders

Market Updates: UK CBI Industrial Order Surged to 6 vs. -5 Forecast

Posted Wednesday, February 20, 2019 by
Arslan Butt • 1 min read

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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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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