The drop in British industrial output over the past three months adds to signs of a manufacturing slowdown
British industrial output fell over the past three months for the first time since February 2021, adding to signs of a manufacturing slowdown, a survey from the Confederation of British Industry showed on Tuesday.
The survey’s order book balance for August dropped to –7 from +8, its lowest since April 2021 and well below the median forecast of +3 in a Reuters poll of economists. The CBI figures follow Purchasing Managers’ Index data published earlier on Tuesday that also showed an unexpectedly sharp decline in factory output this month.
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