FX.co ★ UK Order Book Balance Holds at Six-Year Low

The UK’s total order book balance held at -45 in July 2026, matching the joint-lowest reading since September 2020 and undershooting market expectations of -40. Rising costs and subdued demand are straining manufacturers, who are being forced to absorb the pressure through thinner margins, cuts to investment, and additional job losses. CBI quarterly data show that cost pressures on manufacturers intensified in the three months to July, with unit costs rising at their fastest pace since the three months to October 2022. Nonetheless, output expectations for the next three months showed a marginal improvement, inching up to -30 from -31 in June.