No Result
View All Result
Markets
EUR/USD GBP/USD USD/JPY AUD/USD NZD/USD XAU/USD
Central Banks
FED ECB BoE BoC BoJ SNB RBA RBNZ
Brokers
Wire Transfer Visa/Mastercard Paypal Fasapay Skrill Bitcoin
FCA Cysec CFTC NFA FSA
Forex Guide
Beginners Basics Technicals Fundamentals
Education
Forex Articles Forex School Forex Terms
Forex Strategies
5 Minutes 15 Minutes 30 Minutes 1 Hours 4 Hours Daily
Resources
Indicators Forex Ebooks MT4 MT5
Trading Tools
Live Charts Economic Calendar Fibonacci Calc Pivot Points
Mira FX
  • Markets
  • Education
  • Central Banks
  • Resources
    • Ebooks
    • Indicators
      • MT4 Indicators
      • MT5 Indicators
  • Brokers
    • Deposit Bonuses
    • No-Deposit
    • Demo Contest
    • Live Contest
    • Brokers News
  • Tools
  • Login
  • Deposit Bonuses
  • No-Deposit Bonuses
  • Demo Contest
  • Live Contest
  • Brokers News
  • Brokers
Mira FX
  • Markets
  • Education
  • Central Banks
  • Resources
    • Ebooks
    • Indicators
      • MT4 Indicators
      • MT5 Indicators
  • Brokers
    • Deposit Bonuses
    • No-Deposit
    • Demo Contest
    • Live Contest
    • Brokers News
  • Tools
Mira FX
  • Markets
  • Education
  • Central Banks
  • Resources
  • Brokers
  • Tools
  Latest
Make Money in Forex by Avoiding These Psychological Risks May 24, 2022
Next
Prev

CBI: Manufacturing activity rebounds, but pricing pressures build further

News Feed by News Feed
May 20, 2021
in Economics
Reading Time: 2 mins read

Manufacturing output grew at the fastest rate since December 2018 – the first material growth reported in almost two years – according to the CBI’s latest monthly Industrial Trends Survey.

The survey of 272 manufacturers found that output increased in 12 of 17 sub-sectors, with growth driven by chemicals, electronic engineering, and metal products. Looking ahead, manufacturers anticipate output to accelerate further in the next three months.

Total order books also improved to their strongest since December 2017, and were reported to be “above normal” for the first time since February 2019. Export order books were broadly unchanged from April, but this nonetheless represented the strongest outturn since February 2020.

Manufacturers also reported the weakest stock adequacy since July 2017. Meanwhile, price growth is expected to pick up rapidly in the coming quarter, with expectations at their strongest since January 2018.

Anna Leach, CBI Deputy Chief Economist, said:

“Manufacturing activity rebounded this month, with strong improvements seen across total order books and output volumes. But firms are still feeling the chill as supply shortages fuel cost pressures, reflected in expectations for strong output price inflation in the coming quarter.
“Continued progress on the government’s reopening roadmap is hugely welcome, and gives cause for optimism. But manufacturers need clarity on future social distancing requirements and the future of workplace testing to smooth the route to recovery. This will also go some way to easing supply chain pressures, and thus partly ease the cost and pricing pressure.”/br>

Tom Crotty, Group Director at INEOS and Chair of the CBI Manufacturing Council, said:

“These latest figures are very positive, and it is great to see the sector bounce back from the bleak situation we saw last year. While this progress is welcome, firms continue to face several supply challenges and cost pressures as the UK moves along the roadmap.
“Manufacturing can be an engine for the UK’s economic growth and renewal over the long-term but, for this to be a reality, it will first be important for government to continue listening to firms to address short term barriers to recovery.”

Key findings

Output

  • Output volumes grew at the fastest pace since December 2018 (+18% from +3% in April) in the three months to May.
  • Output increased in 12 out of 17 sub-sectors, with growth being driven by the chemicals, electronic engineering, and metal products sub-sectors.
  • Manufacturers expect output to accelerate further in the next three months (+33%).

Order books

  • Total order books (+17%) improved on April (-8%, long-run average of -14%). The was strongest outturn since December 2017, and marked the first time order books have been considered to be “above normal” in over two years.
  • Export order books (-17%) were broadly unchanged from April (-18%) but this nevertheless marked the strongest outturn since February 2020 and is around the long-run average.
    Prices
  • Manufacturers expect output price growth to accelerate rapidly in the next three months (+38% from +27% in April), marking the strongest expectations since January 2018.

Stocks

  • Present stocks of finished goods (-6 from +5 in April) fell to their weakest position since July 2017. This was also the first time since July 2017 that stocks were considered “less than adequate”.

Source

Tags: GBP
ShareTweetShareSendShareSend

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Advertisement

Latest

Forex Psychological Risks

Make Money in Forex by Avoiding These Psychological Risks

JOANA N - MAY 24 | Psychology

Differences between the Foreign Exchange Market and Stock Market

DAVID G - May 23 | BASIC

Why Leverage is Important for Forex Traders?

Joana N - May 23 | Basic

How To Install Metatrader 5 Custom Indicators

MIRA TEAM - May 9 | Basic

Gross Domestic Product, First Quarter 2022

APR 28, 2022 | USD

The pound reacts to rising inflation like EM currency

Apr 13, 2022 | GBP/USD
Advertisement
  • About
  • Advertising
  • Disclaimer
  • Contact
  • Privacy Policy
  • Terms & Conditions
Risk Warning: All information on this website, including any opinions, articles, charts, prices, news, data, Buy/Sell signals, reviews, research and analysis is provided as general market commentary and does not constitute any investment advice. Mira FX is not liable for any damage or loss, including but not limited to, any loss of investment, which may be based either directly orindirectly on the use of or reliance on such information. Before deciding whether or not to take part in foreign exchange or financial markets or any other type of financial instrument, please carefully consider your investment objectives, level of experience and risk appetite. Do not invest more money than you can afford to lose. Note that the high level of leverage in forex trading may work against you as well as for you. Please seek advice of an independent financial advisor if you are not fully aware about the risks associated with foreign exchange trading. Forex trading on margin involves considerable exposure to high risk, and may not be suitable for all investors. Mira FX does not endorse any companies, products or services which are represented on Mira-FX.com The information on this website is subject to change without notice.
No Result
View All Result
  • About
  • Advertising
  • Central Banks
  • Contact
  • Disclaimer
  • Forex Brokers
    • Regulator
  • Index
    • Daily Forex Strategy
    • Forex Ebooks | Language: English
    • H1 Forex Strategy
    • H4 Forex Strategy
    • M15 Forex Strategy
    • M30 Forex Strategy
    • M5 Forex Strategy
  • Markets
    • EUR/JPY
  • Mira FX
  • Privacy Policy
  • Terms & Conditions
  • Tools
    • Economic Calendar
    • Fibonacci Retracement Calculator
    • Live Charts
    • Pivot Point Calculator

© 2022 Mira FX | Copying of materials is allowed only with the presence of an active link to a source page.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In