Strong manufacturing data released for September - The CBI's industrial trends survey shows orders increasing from zero to nine, smashing analyst expectations of a rise to just two.
Factory output expectations came in at 33 versus expectations of 25, and export orders at six versus minus seven.
Samuel Tombs, UK Economist, Capital Economics:
September’s UK CBI Industrial Trends Survey suggests that the recovery in the manufacturing sector is continuing to go from strength to strength.
The balance is consistent on the basis of past form with manufacturing output growing at an annual rate of 6% or more - a stronger rate than indicated by the other, less timely, surveys.
While we still worry that the manufacturing recovery will struggle to sustain quite such a strong pace of growth for much longer, for now at least, a strong recovery appears to be in motion.