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Confederation of British Industry (CBI) survey data released on Friday last week showed that UK's CBI industrial trend orders unexpectedly rose to a five-month high level of -8.0 in May, compared to market expectations of a fall to -13.0 and following a reading of -11.0 in the previous month.
About 15% of businesses reported an increase in export orders, while 29% reported a decrease, resulting in a balance of -14%. CBI said that output was expected to firm over the next three months, with 32% companies suggesting a rise and 12% expecting a decrease, leaving a balance of 20%.
"Conditions in the manufacturing sector seem to be a little better overall, with improving order books compared with a couple of months ago," said CBI's director of economics, Rain Newton-Smith.
