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Investing.com -- British manufacturers reported the sharpest decline in output since August 2020 during the three months to November, with uncertainty ahead of next week’s annual budget cited as a key factor.
The Confederation of British Industry (CBI) revealed that its industrial output balance fell to -30 from -16 in the three months to October. The outlook for the next three months also deteriorated, dropping to -30 from -19.
The industrial order balance showed only a marginal improvement, edging up to -37 this month from -38 in October, which had been the lowest reading since December 2024.
"What’s striking in this month’s survey is how consistently firms link the slowdown to uncertainty ahead of the Budget, with customers delaying purchases and investment until they know what’s coming," said CBI Lead Economist Ben Jones.
This manufacturing slowdown comes as overall British economic growth has already weakened. Official data showed that growth slowed to 0.1% in the three months to September, below expectations. The economy was particularly impacted by a cyber attack on JLR (NSE:TAMO) which resulted in a 29% fall in British motor vehicle production in September alone.
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