2023.03.2213:01:00UTC+00UK Manufacturing Orders Weaken In March: CBI

UK factory order book balance weakened in March and selling price expectations among manufacturers declined to the lowest in two years, reports said citing survey results from the Confederation of British Industry on Wednesday.

The order book balance unexpectedly fell to -20 percent in March from -16 percent in the preceding period, the Industrial Trends survey revealed. This was the lowest since February 2021. The expected level was -15 percent.

The index measuring the expected selling prices slid to +25 percent in March from +40 percent in February. The balance hit the lowest since March 2021.

CBI Deputy Chief Economist Anna Leach said the decline in output and softer order books underscore the challenging demand conditions for UK manufacturing.