Key facts
- UK factory orders reached their highest level since July 2023 in September.
- The CBI's monthly order books balance increased to -9 in September.
- The increase in order books is the biggest rise in 49 years.
- Expectations for future manufacturing output improved.
- Expected prices cooled in September.
A gauge of British factory orders rose this month to reach its highest level since July 2023, according to a survey by the Confederation of British Industry (CBI) released on Tuesday. The report indicates growing signs of resilience in the UK economy and solid increases in manufacturing output.
The CBI's monthly balance for order books increased to -9 in September, up from -25 in August. This jump of 36 points over the past two months represents the largest such rise since records began 49 years ago. Additionally, the survey's measure of expectations for manufacturing output in the coming months improved to its highest point since March. However, the gauge for expected prices cooled to +12 from +22 in August.