UK manufacturing orders hit lowest level since 2020 as CBI survey stays firmly negative
Crypto Briefing 2026-07-23 10:11:54
Context: The UK's manufacturing sector experienced a significant decline in July, with orders hitting their lowest level since 2020. According to a survey by the Confederation of British Industry (CBI), the manufacturing orders index fell to -45, which is firmly negative and below initial estimates. This downturn has implications for the pound and the Bank of England's future policy decisions.
Key Facts
- The UK's CBI manufacturing orders index fell to -45 in July, marking the weakest reading since 2020 and falling short of estimates, which had predicted a reading of -40.
- The CBI survey's negative reading indicates that manufacturers reported a substantial decrease in orders, contributing to the overall decline in the sector.
- The decline in manufacturing orders has potential implications for the value of the pound and may influence the Bank of England's future monetary policy decisions.