FXstreet.com (Barcelona) - Pessimistic expectations showed by British manufacturers three months ago seem not to have materialised, and the sector appears more resilient about the global economic slowdown, as we can conclude from the latest CBI Industrial Trends Survey.
Demand has continued to grow, with a balance of +11 reporting increasing orders in the three months to January, although the growth is expected to slow over the next three months, with a balance of +4.
Total order books showed a balance of +2 in January, the same as in December. Demand has been fuelled by overseas orders, showing a balance of +10 companies reporting increases in foreign orders, while domestic orders posted a weak -1.
Growth in manufacturing output showed a balance of +8, and the outlook for the next three months posted a balance of +9. Nevertheless the economic sentiment continues negative, with a balance of -18.