Factory orders fall in January

first_img Factory orders unexpectedly fell in January, but firms are still expecting to raise prices markedly in the coming months, the CBI’s industrial trends survey showed.The Confederation of British Industry survey’s total order book balance fell to -16 this month from a 30-month high of -3 in December. Analysts had expected a reading of -2.However, January’s reading was still above the long-run trend for this balance, the CBI said.The prices expectations balance rose to its highest since August 2008.“The recovery in the manufacturing sector is firmly in place and looks set to continue” said CBI chief economic advisor Ian McCafferty.“Manufacturers have come under intense pressure to pass on rising costs: they have increased prices markedly in this quarter and expect to raise them at an even faster pace over the next three months. This will drive further inflationary pressure in the wider economy.”Quarterly data published at the same time showed firms expected their business situation to improve, with a business situation balance of +7 from +2 in October. Tags: NULL John Dunne Show Comments ▼ whatsapp Share Thursday 20 January 2011 6:24 am Factory orders fall in January Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayot’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap whatsapplast_img