Manufacturers in the UK saw a rise in orders in November, but remained below the long-run average.
Data from the Confederation of British Industry revealed that 13% of manufacturers reported total order books higher than normal, whilst 40% said that they were below normal.
This gives a balance of -26%, up from the -37% balance recorded the month prior in October, where levels reached the weakest in nine years.
However, the figure remains below the long-run average of -13%, the Confederation of British Industry said.
Export order books also rose to a stronger level than in October, when they were at their weakest level since the 2008 financial crisis.
“While the thick fog of uncertainty from a No Deal Brexit has lifted somewhat, the manufacturing sector remains under pressure from weak global trade and a subdued domestic economy,” Anna Leach, CBI Deputy Chief Economist, commented on the data.
“Order books remain below average, and output volumes continue to fall. When taking into account the deteriorating outlook for manufacturing globally, it’s clear that the outlook for the sector remains precarious,” the Deputy Chief Economist continued.
“The General Election is an opportunity for all parties to explain how they will shore up our economy. Ratifying a Brexit deal and moving on to build a vibrant future relationship with our biggest trading partner, based on frictionless trade, will be vital – both for UK manufacturers, and business as a whole.”
The UK was supposed to depart from the European Union at the end of October, but was granted yet another extension to the deadline, prolonging the uncertain outlook even further.
Parties now prepare for the general election later this year on 12th December.
