FX.co ★ UK Manufacturing Orders Fall in May: CBI

In May 2025, the UK's total order book balance decreased to -30, down from -26 in April, and fell short of the market's forecast of -25, as indicated by the CBI Industrial Trends Survey. This decline represents the lowest point since January and underscores the persistent weakness in manufacturing sentiment, fueled by rising domestic business costs and uncertainties concerning US tariffs. Despite export order books remaining below typical levels, there was a slight improvement compared to the previous month, moving from -41 in April to -29. Simultaneously, output volumes saw a decline during the three months leading up to May, matching the joint-fastest decrease observed since August 2020, with figures at -25 compared to -2. On the inflation front, average selling price expectations remained steady, with the balance recorded at 26, up slightly from 23 in April.