Investing.com - U.K. industrial order expectations were flat in August, industry data showed on Wednesday.
In a report, the Confederation of British Industry said its index of industrial order expectations rose to a reading of 0.0 in August from July’s reading of minus 12.0.
Analysts had expected the index to improve to minus 8.0 in August.
25% of firms reported that total order books were above normal and 26% said they were below, giving a rounded balance of 0%, the highest figure since August 2011.
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, Stephen Gifford. CBI Director of Economics, said, “U.K. manufacturers seem to be experiencing a build-up in momentum, but risks in the global economy still mean that it won’t be plain-sailing for some time to come.”
Following the release of that data, the pound held on to gains against the U.S. dollar, with GBP/USD adding 0.15% to trade at 1.5691.
Meanwhile, European stock markets remained lower. London’s FTSE 100 fell 0.7%, the EURO STOXX 50 slumped 0.3%, France’s CAC 40 was little changed, while Germany's DAX dipped 0.2%.
In a report, the Confederation of British Industry said its index of industrial order expectations rose to a reading of 0.0 in August from July’s reading of minus 12.0.
Analysts had expected the index to improve to minus 8.0 in August.
25% of firms reported that total order books were above normal and 26% said they were below, giving a rounded balance of 0%, the highest figure since August 2011.
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, Stephen Gifford. CBI Director of Economics, said, “U.K. manufacturers seem to be experiencing a build-up in momentum, but risks in the global economy still mean that it won’t be plain-sailing for some time to come.”
Following the release of that data, the pound held on to gains against the U.S. dollar, with GBP/USD adding 0.15% to trade at 1.5691.
Meanwhile, European stock markets remained lower. London’s FTSE 100 fell 0.7%, the EURO STOXX 50 slumped 0.3%, France’s CAC 40 was little changed, while Germany's DAX dipped 0.2%.