According to the latest survey released on Tuesday by the Confederation of British Industry (CBI) of trends in British manufacturing, manufacturing output volumes in the quarter to November continued to fall but November’s factory orders were higher than expected. “13% of manufacturers reported total order books to be above normal, and 40% said they were below normal, giving a rounded balance of -26% (up from -37% in October),” the publication read and the -26% came in better than the market expectation of -31%. “This remains well below the long-run average (-13%).” Commenting on the data, “While the thick fog of uncertainty from a No Deal Brexit has lifted somewhat, the manufacturing sector remains under pressure from weak global trade and a subdued domestic economy,” said Anna Leach, CBI Deputy Chief Economist. The British pound failed to capitalize on the data and the GBP/USD pair was last seen trading at 1.2930, losing 0.18% on a daily basis. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next NZD/USD expected to remain in a consolidative fashion – UOB FX Street 3 years According to the latest survey released on Tuesday by the Confederation of British Industry (CBI) of trends in British manufacturing, manufacturing output volumes in the quarter to November continued to fall but November's factory orders were higher than expected. "13% of manufacturers reported total order books to be above normal, and 40% said they were below normal, giving a rounded balance of -26% (up from -37% in October)," the publication read and the -26% came in better than the market expectation of -31%. "This remains well below the long-run average (-13%)." Commenting on the data, "While the thick fog of… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
