July 2015
Featured in this insight: Financial services, Manufacturing, engineering & industrial
UK factories see slowest order growth in two years: Recent figures from The Confederation of British Industry have revealed that the UK’s factory orders have grown at their slowest rate in the last two years during in July 2015, with the survey indicating that the strong pound has dampened the outlook for manufacturing exports.
The figures showed that the Confederation of British Industry’s order book balance dropped to -10 in July 2015, a notable fall since the month prior, which stood at -7.
July 2015’s figure of -10 represents the lowest number since July 2013.
The survey highlighted a less than positive outlook for manufacturers, with the expectations for export orders in the upcoming 3 months dropping to their lowest level since October 2011.
Deputy Director General of The Confederation of British Industry, Katja Hall, said of the findings:
"Manufacturers are continuing to feel the pressure from the stronger pound,"
"Greater buoyancy in exports remains a missing element from the UK's recovery. Nevertheless we're encouraged by the government's commitment to take steps to address this as part of its recently announced productivity plan."
A separate study found that confidence within British consumers exceeded the global average for the first time in over 9 years, with many Britons feeling more positive about their personal finances and career opportunities.
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