- Manufacturing activity in the UK weakens sharply in October.
- GBP / USD is trading in negative territory around 1.3800.
According to the latest manufacturing trend survey from the Confederation of British Industry (CBI), the manufacturing sector’s order book balance fell to 9 in October, the lowest level since April, since the September 22 reading. This figure was below the 18 expected by the market consensus.
Further details of the release revealed that the manufacturing price expectation balance jumped to its highest level since 1980 to 59. The manufacturing export order balance decreased to -7 from -2 and the manufacturing business optimism balance worsened to 2 from 27 in July.
GBP / USD remains in negative territory after this report and was last seen shedding 0.2% on the day at 1.3795. For its part, the United Kingdom’s FTSE 100 index fell 0.37% to 7.196.
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