UK industrial orders for May fall at quickest pace since 2020 on higher cost pressures
Investinglive·
- In May, the CBI manufacturing order book balance fell to -41, down from -38 in April, marking the lowest estimate since September 2020 due to rising cost pressures.
- Although earlier UK PMI data indicated stable manufacturing conditions in May, this was tempered by a significant warning about temporary demand increases driven by pre-purchases to mitigate rising prices and potential supply disruptions.
- The CBI data is seen as more reflective of the underlying economic conditions and actual demand environment, especially amid rising energy costs and supply chain disruptions caused by conflicts in the Middle East.