Market Updates: UK CBI Industrial Order Surged to 6 vs. -5 Forecast
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.
Both our forex trading signals in the GBP/USD and EUR/GBP have now closed at take profit. Let’s wait and watch more signals!