Bulletin

Boost for manufacturers as sun shines on orders

UK manufacturing activity rebounded in August, with orders improving from a two-year low the previous month, according to the CBI's latest Industrial Trends Survey. The balance of companies with bigger order books against those with smaller ones fell to minus one in August, up from minus 10 in July. Rain Newton-Smith, CBI director of economics, said: 'While the rebound in manufacturers' total order books is encouraging, many firms are still struggling in overseas markets. On the one hand, the strength of sterling and cheaper energy are reducing factory input costs, but the strong pound is also hitting export prices and margins hard. With only four per cent of the UK's exports going to China, the country's slowdown is not a direct cause of concern for our manufacturers, but it will make life harder for our firms in exposed sectors like metals and commodities.'

 

Note: News bulletin content has been provided by a third-party and is not the opinion of Santander.

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