UK Industrial Output Eased In Sep On Declining Orders

Posted by BorsaStreet.com on Thursday, September 22, 2011
U.K. industrial output eased back in September as demand both domestically and from overseas weakened, the Confederation of British Industry said Thursday
.

        The industrial output balance dropped back to +9 in September, compared with +13 in the August survey.

        The CBI survey also reported a decline in orders from firms. The total orders balance fell -9 in September from +1 in August while export orders slid to a balance of -12 from July's 0 balance.

        "U.K. manufacturers report some slackening in demand this month, following the volatility in financial markets and the slowdown in growth in our major trading partners," said Ian McCafferty, the CBI's chief economic adviser.

        "As a result, firms now say stock levels are high relative to expected demand."

        The data are mixed when compared with forecasts. Economists surveyed by Dow Jones Newswires last week had forecast the output balance would slip to +6, while new orders were expected to weaken to -5.

        The survey was carried out between Aug. 24 and Sep. 14. A total of 470 manufacturers responded.

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