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UK manufacturing strong in February and so are prices

EURUSD News by Newsroom on 08:32 February 20, 2017 EST

British manufacturers orders growing at the strongest pace in two years this month, but the fall in the value of the pound is pushing up prices sharply, an industry survey showed on Monday.

The latest Confederation of British Industry (CBI) industrial trends survey showed that order books improved over the three months to February to a balance of 8%, up from 5% in January and a flat reading in December. Around 27 per cent of firms said orders were above normal and 19 per cent said below.

38% of companies expect to raise output prices over the next three months, while only 6% expect to cut prices, leading to a balance of 32%, the highest forecast for price hikes in the manufacturing sector since April 2011.