Although the CBI survey of industrial trends have not received much attention this morning, in the context of the British pound have been some worrying signs. The index of total orders fell sharply this month to -11 to +5 in March, the domestic and export orders also declined substantially. Although industrial output remains at a decent level, some of this production begins to translate into inventories, suggesting unintentional accumulation. In addition, average selling prices remain extremely elevated. An interesting fact is that industrial companies in Britain are still relatively optimistic in the context of the next few months in anticipation of new orders and the strengthening of output. Nevertheless, more and more companies say that labor costs are rising. Industry was one of several good news in the British economy over the past quarters during intense budgetary savings.
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