Economic news

UK manufacturing orders increase at weakest pace since April - CBI

Britain's manufacturing orders grew in September at their lowest pace since April, and production balance for the last three months has also fallen, according to data from the Confederation of British Industry.

The CBI’s factory order book balance slumped to +7 from +13 in August, while economists polled by Reuters had forecast an unchanged reading. The CBI said the weakening was broadly boosted by the food and drink industry.

UK economy has slowed this year as a weaker sterling has caused a rising inflation and weakened direct demand. In its turn, Bank of England has said the rates hike is possible in November.

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