Manufacturers reported the best month for orders in November since Brexit vote

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30th November 2016 11:37 - Industrial

Manufacturers reported the best month for orders in November since Brexit vote: According to recent data from the CBI’s latest Industrial Trends Survey, manufacturers have reported that November was the best month for orders since before Britain voted to leave the European Union, which beats economists’ expectations.Manufacturers reported the best month for orders in November since Brexit vote

The figures also revealed that confidence in the next few months have also increased, which marks the highest confidence levels since February 2015.

The survey findings also revealed that in November, the order books for manufacturing increased, however, export orders and output growth slowed down.

It was also suggested that the decrease in the value of the pound in the wake of the EU referendum has also provided a boost for exporters. Following the decrease in the value of the sterling, manufacturers said that they anticipated an increase in their average selling prices over the next three months and also at the fastest rate since January 2014.

Of the manufacturers in the survey, 23 per cent said that their order books were above the usual rate; however, a further 26 per cent said that their order books were below the normal rate. These figures gave a balance of -3 per cent, which is above the average of -15 per cent and better than expectations of -8 per cent.

The CBI surveyed 430 manufacturers to reveal that total order books had reverted back to the levels that were seen in the summer of 2016 and far above the long standing average. However, export orders decreased slightly but stayed above average.

The survey also revealed that output orders increased at a slower rate than over the last three months.

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