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Britain’s production orders are near the highest level in three decades

Production orders keep near the highest level in three decades in the October-December period of 2017, supported by the low UK currency, as a dedicated survey by CBI shows.

Some 28% of companies assess the number of orders to be higher than usual, while 11% - less than usual, which makes a positive result of 17%, the best since August 1988, considering the figures of Industrial Trends survey of November.

Export orders are at their peak since the middle of 1990s, making a 16% positive reported balance. Particularly positive results are in vehicles and engineering industry, and 14 sub sectors out of 17 total showed the level above usual. Those surveyed responded that they anticipated production growth to ease in the beginning of 2018 and prices to go up.

Data also highlights limited eagerness to invest among producers because there’s no clarity concerning trade rules after Britain leaves the EU. The trade-weighted pound is still 10% down since the summer vote on Brexit, giving British producers some competitive edge abroad.

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