2019.12.1711:03:00UTC+00UK Manufacturers See Slower Decline In Output: CBI

UK manufacturers expect output volumes to decline at a slower pace in the first quarter of next year, survey data from the Confederation of British Industry showed Tuesday.

A net balance of -7 percent expect output volumes to fall in three months to March 2020 compared to -16 percent reporting a decline in output over the fourth quarter of this year, which was the lowest balance since September 2009.

Further, the order book balance remained negative, at -28 percent, below the long-run average of -13 percent. The export order book worsened, with the balance falling to -35 percent.

Firms expect output prices to pick up somewhat in the next three months.

"These disappointing figures are reflective of the widespread weakness in the global manufacturing sector and the impact of continued Brexit uncertainty in the run-up to the General Election," Tom Crotty, group director, INEOS and chair of the CBI manufacturing council, said.