CBI: British factory orders manage to recover after October dive

CBI: British factory orders manage to recover after October dive

In November, UK factory orders managed to recover, although previously in October they sagged steeply. It has been uncovered by a newly-released poll. The given outcomes soothed worries about the scale of a deceleration in the economy of the United Kingdom ahead of the country’s long-awaited departure from the European bloc already in March.

As the Confederation of UK Industry pointed out, its monthly order book balance managed to head north by up to +10 in contrast with October’s reading of -6, which turns out to be the steepest dive for two years.

On the other hand, November's reading appeared to be firmer than all estimates mentioned in a Reuters survey of reputable financial analysts.

As some financial analysts told, that’s so encouraging to observe a gradual improvement in the manufacturing sector after October's tough poll, with order books as well as output surge on the up. However, they drew attention to one crucial nuance.  The told that the future prosperity of British manufacturers solely depends on getting the Brexit deal. They also pointed to the overwhelming message from business to the British cabinet – to make progress, without going backwards.

As a matter of fact, the previous week UK Prime Minister Theresa May finally agreed a withdrawal pact with Brussels. The given document will provide the United Kingdom with a transition period for departing from the European bloc.

Nevertheless, the newly-achieved pact is strongly opposed by May's Conservative Party. That’s a definite sign that the pact might fail in the country’s parliament in the nearer future.

By the way, manufacturing accounts for nearly 10% of the overall economic output of the United Kingdom.

Additionally, UK retailers are on the verge of spending tens of millions of pounds to back a disorderly Brexit.


CPI Wednesday: the Doomsday for EURUSD and GBPUSD?
CPI Wednesday: the Doomsday for EURUSD and GBPUSD?

Today, the US Inflation release at 15:30 GMT+3 will determine the further destiny of the major pairs and gold. The event is highly impactful, as the Federal Reserve will make decisions regarding further rate hikes based on it. Also, we brought you some news about XAUUSD and GBPUSD. Stay tuned!

Latest news

No More US Debts in Sight
No More US Debts in Sight

The first day of June should’ve brought us the US default. Unsurprisingly, the US House passes the debt ceiling bill at the latest possible moment.

Gold Rises as Central Banks Buy More
Gold Rises as Central Banks Buy More

About 24% of global central banks intend to increase gold reserves in 2023. Rising inflation, geopolitical turmoil, and worries about interest rates are reasons to increase gold reserves.

Deposit with your local payment systems

Feel the Team Spirit

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera