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CBI Industrial Orders survey showed balance of -8%

Friday, May 20 2016
Orders improved a little overall and output grew, according to the latest monthly CBI Industrial Trends Survey. 16% of businesses reported an increase in total orders (up from -11% in April), and 24% a decrease, giving a balance of -8%. 15% of businesses reported an increase in export orders and 29% a decrease, resulting in a balance of -14%.
Rain Newton-Smith, CBI Director of Economics, said: “Conditions in the manufacturing sector seem to be a little better overall, with improving order books compared with a couple of months ago. But domestic and global uncertainty remains high, alongside lacklustre export demand."
 
Sterling is currently being traded few points above 1.4580 level. Pair is likely to find support around 1.4550 handle and resistance above 1.463 level. Later today, in the US session, Existing Home Sales figures will be released.
More in this category: « Eurozone Current Account recorded surplus of €27.3 billion Existing Home Sales at an annual rate of 5.45 million »

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