UK Manufacturing Orders Continue To Fall: CBI

(RTTNews) - UK manufacturers continued to register decline in new orders in June and output logged a steady pace of sharp decline, survey data from the Confederation of British Industry showed on Tuesday.

The total order books balance fell to -33 percent in June from -30 percent in May, the latest monthly Industrial Trends Survey showed. At the same time, export orders dropped at slower pace with the indicator rising to -26 percent from -29 percent.

Output volumes decreased at a steep pace in the three months to June. A net 23 percent of manufacturers said output decreased in the second quarter, which was broadly similar to May.

Expectations for average selling price inflation eased in June. The corresponding balance dropped to 19 percent from 26 percent in May.

"The UK's manufacturing sector is under significant pressure, contending with high energy costs, rising labour costs, pervasive skills shortages, and a volatile global economic environment," CBI Lead Economist Ben Jones said.

"With departmental budgets now set following the Spending Review, businesses are looking to the government to dismantle barriers to growth ahead of the Autumn Budget," Jones added.