Investing.com – U.K. industrial order expectations fell significantly more-than-expected in April, retreating from March’s three-year high, industry data showed on Tuesday.
In a report, the Confederation of British Industry said its index of industrial order expectations declined to -11.0 in April, compared to reading of 5.0 in March, which was the highest since March 2008.
Analysts had expected the index to ease down to 4.0 in April.
On the index, a reading above 0.0 indicates increasing order volume is expected, below indicates expectations are for lower volume.
Inflationary pressures show no sign of receding over the coming quarter, with firms expecting costs and prices to increase sharply again over the next three months.
Commenting on the report, CBI Director General John Cridland said, “Production costs have jumped markedly during the last three months, rocketing ahead after a full year of already rapid cost inflation.”
Following the release of that data, the pound was down against the U.S. dollar, with GBP/USD shedding 0.11% to hit 1.6481.
Meanwhile, European stock markets were higher. The FTSE 100 added 0.3%, the EURO STOXX 50 gained 0.45%, France’s CAC 40 rose 0.32%, while Germany's DAX advanced 0.39%.
In a report, the Confederation of British Industry said its index of industrial order expectations declined to -11.0 in April, compared to reading of 5.0 in March, which was the highest since March 2008.
Analysts had expected the index to ease down to 4.0 in April.
On the index, a reading above 0.0 indicates increasing order volume is expected, below indicates expectations are for lower volume.
Inflationary pressures show no sign of receding over the coming quarter, with firms expecting costs and prices to increase sharply again over the next three months.
Commenting on the report, CBI Director General John Cridland said, “Production costs have jumped markedly during the last three months, rocketing ahead after a full year of already rapid cost inflation.”
Following the release of that data, the pound was down against the U.S. dollar, with GBP/USD shedding 0.11% to hit 1.6481.
Meanwhile, European stock markets were higher. The FTSE 100 added 0.3%, the EURO STOXX 50 gained 0.45%, France’s CAC 40 rose 0.32%, while Germany's DAX advanced 0.39%.