LONDON (dpa-AFX) - British manufacturers said their export order books rose to the highest level since late 2013 and expectations for growth reached a more than two-decade high, the Industrial Trends survey from the Confederation of British Industry showed Tuesday.
The export order books balance rose to 10 percent, the highest since December 2013 and the total order books balance came in at 8 percent, above the expected level of 5 percent.
A balance of 23 percent reported a rise in output volumes, the highest since July 2014. Manufacturers anticipate that output growth to accelerate further over the near-term.
The past fall in the pound seems finally to be helping lift demand for UK manufactured exports, Anna Leach, CBI Head of Economic Intelligence, said.
'But the flipside is that cost pressures are widespread, and manufacturers expect factory-gate prices to continue to rise strongly over the next three months,' she said.
Copyright RTT News/dpa-AFX