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U.K. CBI industrial order expectations rise more than expected

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Investing.com -

Investing.com - U.K. industrial order expectations improved more than expected in August, fuelling optimism over the country's economic outlook, industry data showed on Wednesday.

In a report, the Confederation of British Industry said its index of industrial order expectations increased by 9.0 points to a reading of 11.0 this month from July's reading of 2.0.

Analysts had expected the index to rise by 2.0 points to 4.0 in August.

On the index, a reading above 0.0 indicates increasing order volume is expected, below indicates expectations are for lower volume.

Katja Hall, CBI Director-General, said, ""The outlook for UK manufacturers remains healthy, with both total and export orders firming up. Despite a dip in the pace of output growth, companies expect a strong pick-up in the next three months."

Following the release of that data, the pound held on to gains against the U.S. dollar, with GBP/USD rising 0.17% to trade at 1.6646.

Meanwhile, European stock markets remained lower. London's FTSE 100 shed 0.3%, the DJ Euro Stoxx 50 dipped 0.5%, France's CAC 40 declined 0.45%, while Germany's DAX slumped 0.5%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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