Investing.com - U.K. industrial order expectations improved more-than-expected in February, industry data showed on Thursday.
In a report, the Confederation of British Industry said its index of industrial order expectations improved to a reading of minus 14.0 in February from January’s reading of minus 20.0.
Analysts had expected the index to improve to minus 15.0 in February.
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, “The rebound in manufacturing orders and expectations for output growth provide some further signs of improvement in the outlook for the UK economy.”
Following the release of that data, the pound trimmed losses against the U.S. dollar, with GBP/USD shedding 0.06% to trade at 1.5225.
Meanwhile, European stock markets remained sharply lower. London’s FTSE 100 dropped 1.6%, the EURO STOXX 50 tumbled 1.9%, France’s CAC 40 lost 1.8%, while Germany's DAX retreated 1.8%.
In a report, the Confederation of British Industry said its index of industrial order expectations improved to a reading of minus 14.0 in February from January’s reading of minus 20.0.
Analysts had expected the index to improve to minus 15.0 in February.
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, “The rebound in manufacturing orders and expectations for output growth provide some further signs of improvement in the outlook for the UK economy.”
Following the release of that data, the pound trimmed losses against the U.S. dollar, with GBP/USD shedding 0.06% to trade at 1.5225.
Meanwhile, European stock markets remained sharply lower. London’s FTSE 100 dropped 1.6%, the EURO STOXX 50 tumbled 1.9%, France’s CAC 40 lost 1.8%, while Germany's DAX retreated 1.8%.