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UK factory output expectations hit lowest since 2009 - CBI

UK factory output expectations hit lowest since 2009 - CBI
FILE PHOTO: A worker holds a component for a Volvo truck at the Muller manufacturing facility in Redditch, Britain August 28, 2018. REUTERS/Darren Staples -
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DARREN STAPLES(Reuters)
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LONDON, Sept 24 (Reuters) – British factories’ expectations for output fell in September to their lowest level in more than 10 years, according to a survey that showed Brexit and a global slowdown weighing on manufacturing.

The Confederation of British Industry’s (CBI) monthly gauge of manufacturing order books fell in September to -28 from -13, below expectations in a Reuters poll for a reading of -18.

The survey’s gauge of output expectations in the next three months fell to -19 from -1, its lowest level since April 2009.

“Following a stabilisation in last month’s data, UK manufacturers have become noticeably gloomier in September,” said Anna Leach, CBI deputy chief economist.

“This likely reflects a combination of heightened Brexit uncertainty and the ongoing global slowdown in manufacturing.”

(Reporting by Andy Bruce and David Milliken)

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