UK CBI: Highest reading since 1998, Manufacturing demand strengthens

Manufacturing firms reported that both their total and export order books had strengthened to multi-decade highs in June, according to the CBI’s latest Industrial Trends Survey.

Key takeaways

Export orders also improved to a 22-year high

Output growth eased to the levels seen at the start of the year

Pricing pressures remain strong, with manufacturers continuing to expect a sharp rise in average selling prices

Average selling prices are still expected to rise in line with the level seen in May (+23%), having eased from their peak in February (+32%)

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