FXstreet.com (Barcelona) - UK industrial sector is going through a historic slowdown, with output sinking to the lowest levels in 28 years, and demand in free fall, according to the latest industrial trends survey published by the Confederation of British Industry.
Total orders volume has dropped in January to a balance of -48 in January, the weakest orders balance in the latest 16 years, from the already poor -35 balance posted in December. Market analysts had advanced a softer decline to levels around -39.
Industrial output balance has edged down to a balance of -43 in January from -42 in December, analysts expected a balance of -40.
Economic sentiment has also worsened in line with the economic decline, 70% of the companies surveyed are less optimistic than three months ago while only 6% of them are more positive, which throws a balance of -64, the lowest since 1980.