UK: CBI Manufacturing Order Book Balance improved to -22 vs. -23 expected

In its latest Industrial Trends Survey, the Confederation of British Industry reported that the headline Manufacturing Order Book Balance improved to -22 in January from -28 in December. This reading came in slightly better than the market expectation of -23.

Further details of the report showed that the Manufacturing Output Expectations rose to its highest reading since July at +4 and the Quarterly Business Situation Index jumped to its best level in more than five years at +23 in November from -44 in October.

The British pound gathered strength against its rivals on the upbeat data and the GBP/USD was last seen trading at 1.3078, adding 0.25% on a daily basis.