Investing.com - U.K. industrial order expectations improved significantly more-than-expected in February, rising to a six-month high, industry data showed on Thursday.
In a report, the Confederation of British Industry said its index of industrial order expectations improved by 13.0 points to minus 3.0 in February from a reading of minus 16.0 in January.
Analysts had expected the index to improve by 3.0 points to minus 13.0 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 Chief Economic Advisor Ian McCafferty said, “Both domestic and overseas demand have strengthened, underpinning solid expectations for output growth, which is encouraging news, given the particularly difficult period for business in the final quarter of 2011.”
Following the release of that data, the pound held on to gains against the U.S. dollar, with GBP/USD rising 0.28% to trade at 1.5714.
Meanwhile, European stock markets were mixed. London’s FTSE 100 rose 0.2%, the EURO STOXX 50 shed 0.4%, France’s CAC 40 fell 0.1%, while Germany's DAX retreated 0.35%.
In a report, the Confederation of British Industry said its index of industrial order expectations improved by 13.0 points to minus 3.0 in February from a reading of minus 16.0 in January.
Analysts had expected the index to improve by 3.0 points to minus 13.0 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 Chief Economic Advisor Ian McCafferty said, “Both domestic and overseas demand have strengthened, underpinning solid expectations for output growth, which is encouraging news, given the particularly difficult period for business in the final quarter of 2011.”
Following the release of that data, the pound held on to gains against the U.S. dollar, with GBP/USD rising 0.28% to trade at 1.5714.
Meanwhile, European stock markets were mixed. London’s FTSE 100 rose 0.2%, the EURO STOXX 50 shed 0.4%, France’s CAC 40 fell 0.1%, while Germany's DAX retreated 0.35%.