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UK factory orders slow to six-month low in October

"From higher material costs to labour shortages, manufacturers continue to face a number of serious global supply challenges hampering their ability to meet strong demand," said CBI deputy chief economist Anna Leach

The growth in factory orders in October was the weakest in six months, as rising raw material prices and labour shortages took their toll.

The Confederation of British Industry’s monthly manufacturers' order book balance fell to +9 in October from +22 in September, its lowest since April and well below the average forecast of +18 in a Reuters poll of economists.

Domestic prices in October rose at their fastest pace since April 1980, while raw material stocks were the lowest on record, the CBI survey revealed.

Meanwhile, average unit costs, which include wages, reached their highest level since April 1977.

"From higher material costs to labour shortages, manufacturers continue to face a number of serious global supply challenges hampering their ability to meet strong demand," CBI deputy chief economist Anna Leach said.

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