We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
RSS FeedChange Management

Factory order books at lowest since Dec 2011


Expectations for growth have also fallen on concerns for euro zone and global economy

Article comments

Factory order books fell to their lowest level since December 2011 in August as the outlook for growth also deteriorated, adding pressure on the chancellor to halt austerity plan, according to new data on Tuesday.

In the latest monthly industrial trends survey, a balance in total order books of 456 manufacturers plummeted to -21 percent, the Confederation of British Industry said.

Export orders in August also fell to their lowest level since January with manufacturers reporting a balance of -17 percent, the study found.

Output is expected to be flat over the next three months following two consecutive months showing expectations for a rise, the CBI said. Output prices are also expected to be flat in the third quarter for the third month in a row.

“Overall demand for manufactured goods has eased back this month, led by a weakening in the consumer goods sector following a strong July figure,” Anna Leach, CBI head of economic analysis, said.

“The economic environment for UK manufacturers remains challenging, with domestic demand relatively muted and the ongoing euro zone crisis now seeming to drag on broader global economic momentum,” she added.

The government is increasingly coming under fire for its failure to kick start the economy despite a series of initiatives to inject cash into the economy. Critics argue that chancellor George Osborne must curb his austerity cuts to allow the economy to grow and instil confidence in businesses and consumers to spend again.

Share:

Recommended Articles

Comments

Factory order books at lowest since Dec 2011
Change Management

Is the FTSE 350 hiding behind token women appointments?

Is the FTSE 350 hiding behind token women appointments?

There are just 16 female executives in the first five FTSE 100 companies and technology firms fare even worsemore ..


Met Office teams up with Heathrow to improve flight decisions

IT connects Met Office workers in Heathrow with supercomputing power from its Exeter basemore ..

Customer satisfaction falls for third month in a row

CFOs are in prime position to improve customer satisfaction, CEO of Customer Service Institute saysmore ..

Reckitt Benckiser to demerge pharmaceutical business

The separate UK listing is expected to take place over the next 12 months, the company said in its half-year results updatemore ..

Making multi-supplier outsourcing work

It is not enough to assign a contract and then expect the outsourcer to run with it independentlymore ..

Interim CFO or consultant? The pros and cons

Ed Harding offers an insight into the life of an interim CFO and the advantages in driving transformationmore ..

Send to a friend

Email this article to a friend or colleague:


PLEASE NOTE: Your name is used only to let the recipient know who sent the story, and in case of transmission error. Both your name and the recipient's name and address will not be used for any other purpose.



In Depth
Can finance rise to the challenge of major transformation?

Can finance rise to the challenge of major transformation?

Outdated finance processes, systems and competencies leave too many questions unanswered more ..

In Depth
Interim CFO or consultant? The pros and cons

Interim CFO or consultant? The pros and cons

Ed Harding offers an insight into the life of an interim CFO and the advantages in driving transformation more ..

Advertisement

* *