Investing.com - U.K. industrial order expectations deteriorated unexpectedly in October, falling to the lowest level in eleven months, industry data showed on Wednesday.
In a report, the Confederation of British Industry said its index of industrial order expectations deteriorated by 15.0 points to a reading of minus 23.0 in October from September’s reading of minus 8.0.
Analysts had expected the index to improve by 2.0 point to minus 6.0 in October.
On the index, a reading above 0.0 indicates increasing order volume is expected, below indicates expectations are for lower volume.
Commenting on the report, CBI Head of Economic Analysis Anna Leach said, “U.K. companies are increasingly concerned by political and economic conditions abroad, whether it is ongoing weakness and uncertainty in the euro zone or the approaching fiscal cliff in the U.S.”
Following the release of that data, the pound held on to gains against the U.S. dollar, with GBP/USD adding 0.17% to trade at 1.5978.
Meanwhile, European stock markets remained mixed. London’s FTSE 100 was flat, the EURO STOXX 50 gained 0.15%, France’s CAC 40 advanced 0.25%, while Germany's DAX dipped 0.1%.
In a report, the Confederation of British Industry said its index of industrial order expectations deteriorated by 15.0 points to a reading of minus 23.0 in October from September’s reading of minus 8.0.
Analysts had expected the index to improve by 2.0 point to minus 6.0 in October.
On the index, a reading above 0.0 indicates increasing order volume is expected, below indicates expectations are for lower volume.
Commenting on the report, CBI Head of Economic Analysis Anna Leach said, “U.K. companies are increasingly concerned by political and economic conditions abroad, whether it is ongoing weakness and uncertainty in the euro zone or the approaching fiscal cliff in the U.S.”
Following the release of that data, the pound held on to gains against the U.S. dollar, with GBP/USD adding 0.17% to trade at 1.5978.
Meanwhile, European stock markets remained mixed. London’s FTSE 100 was flat, the EURO STOXX 50 gained 0.15%, France’s CAC 40 advanced 0.25%, while Germany's DAX dipped 0.1%.