UK August CBI trends total orders -15 vs -9 prior

UK factory output drops at its fastest rate in nearly 3 years with the net balance of output for the three months to August coming in at -19 from +3 in July, marking the lowest reading since September 2020. As order books are also deteriorating, it’s a gloomy outlook to say the least for the manufacturing sector in the UK – much like the rest of Europe.