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October factory orders suffer biggest drop in a year - CBI
worldtraveller
Posts: 14,013 Forumite
Factory orders fell at their fastest pace in a year in October and firms expected to cut output as worries about the euro zone debt crisis weighed on sentiment, the CBI's October industrial trends survey showed on Wednesday.
The Confederation of British Industry survey's total order book balance fell to -18 this month from -9 in September, the lowest since October 2010 and confounding expectations for a steady reading of -9.
The fall in orders reflected a decline in export orders, which dropped to -14, also its lowest in a year, and companies expected to reduce output with the output expectations balance falling to -11 from +9, its lowest in more than two years (since Britain was in a recession).
Bloomberg
The Confederation of British Industry survey's total order book balance fell to -18 this month from -9 in September, the lowest since October 2010 and confounding expectations for a steady reading of -9.
The fall in orders reflected a decline in export orders, which dropped to -14, also its lowest in a year, and companies expected to reduce output with the output expectations balance falling to -11 from +9, its lowest in more than two years (since Britain was in a recession).
Bloomberg
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