Investing.com - U.K. industrial order expectations improved less-than-expected in June, 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 18.0 in June from May’s reading of minus 20.0.
Analysts had expected the index to improve to minus 15.0 in June.
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, “While an expected improvement in conditions at home and abroad should lead to better prospects for manufacturers, the business climate still remains quite fragile.”
Following the release of that data, the pound held on to losses against the U.S. dollar, with GBP/USD shedding 0.27% to trade at 1.5443.
Meanwhile, European stock markets remained lower. London’s FTSE 100 fell 2.2%, the EURO STOXX 50 tumbled 2.4%, France’s CAC 40 dropped 2.3%, while Germany's DAX sank 2.4%.
In a report, the Confederation of British Industry said its index of industrial order expectations improved to a reading of minus 18.0 in June from May’s reading of minus 20.0.
Analysts had expected the index to improve to minus 15.0 in June.
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, “While an expected improvement in conditions at home and abroad should lead to better prospects for manufacturers, the business climate still remains quite fragile.”
Following the release of that data, the pound held on to losses against the U.S. dollar, with GBP/USD shedding 0.27% to trade at 1.5443.
Meanwhile, European stock markets remained lower. London’s FTSE 100 fell 2.2%, the EURO STOXX 50 tumbled 2.4%, France’s CAC 40 dropped 2.3%, while Germany's DAX sank 2.4%.