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<Econ> CBI: UK Manufacturers' Confidence Plunges as Costs Surge Sharply
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According to a survey released on Thu by the Confederation of British Industry (CBI), UK manufacturers' pessimism has reached its highest level since the COVID-19 pandemic, driven by the Iran war and rising inflation expectations. The survey showed that companies' investment plans in buildings, plant and machinery, and training were the weakest since April 2020. The quarterly business optimism index fell from -19 in Jan to -65 in Apr. CBI's monthly total order book balance declined from -27 in Mar to -38 this month, further below its long-term average of -14. The indicator for expected prices in the survey surged from 12 in Mar to 32, marking the largest single-month increase since records began in 1975. (to/s) This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
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