UK industrial orders grow at joint-record pace in May – CBI
2022.05.19 13:40
FILE PHOTO: A worker walks past a crucible containing molten metal at the United Cast Bar Group’s foundry in Chesterfield, Britain, April 12, 2022. REUTERS/Phil Noble
LONDON (Reuters) – British manufacturers reported the joint-strongest growth in orders this month since records began, while output rose at the fastest rate since July, figures from the Confederation of British Industry showed on Thursday.
The CBI’s headline order book index – which measures the extent to which order levels are above or below normal – rose to +26 in May from +14 in April, matching previous records from March and November.
“Manufacturers have reported output growth and order books improving in May. But cost pressures remain acute and are pushing manufacturers to raise prices,” CBI deputy chief economist Anna Leach said.
