UK factory orders weaker than expected

British manufacturers' order books deteriorated unexpectedly at their fastest rate since the start of this year, a survey showed…

British manufacturers' order books deteriorated unexpectedly at their fastest rate since the start of this year, a survey showed today.

The Confederation of British Industry said its monthly manufacturing order books balance fell to -20 in October from -5 in September. That was the weakest reading since January.

Analysts had forecast the order books balance would remain steady at -5, which was its highest since Dec 2004.

The balance of firms expecting future output to increase fell to +9 from +14 in September.

In its quarterly questions, the overall business situation balance fell to -10 in October from -6 in July.

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