2018.08.2106:47:00UTC+00UK Factory Order Growth Slows In August: CBI

UK manufacturers registered a slowdown in order growth in August, the latest Industrial Trends Survey from the Confederation of British Industry showed Tuesday.

The survey showed that 31 percent of manufacturers reported total order books to be above normal, and 23 percent said they were below normal, giving a rounded balance of +7 percent for three months ended August.

The factory order book balance for August fell to +7 percent from +11 percent in previous month. The expected balance was 8 percent.

According to CBI survey, a net 21 percent of respondents said output volume increased in three months to August.

Anna Leach, CBI Head of Economic Intelligence, said, "risks to that growth remain high in light of international trade tensions and the uncertainty caused by Brexit."

"Make no mistake, a 'no deal' scenario would be immensely damaging not just for UK manufacturers, but also the rest of the EU," Leach added.

Manufacturers expect output growth to continue at a similar pace over the coming quarter. A net balance of +20 percent expects growth in output.