Exporters get welcome lift from slump in sterling

0 Athough the fall in the pound has increased costs for many businesses, it has boosted exports Britain’s manufacturers have reported rising demand driven by a rebound in export orders on the back of a weak pound.

The latest CBI industrial trends survey showed that 30 per cent of manufacturers said their total order books were above normal in August, compared with 17 per cent that experienced lower levels over the same period, resulting in a balance of plus 13 per cent. That is above the long-run average of minus 14 per cent.

Those figures were driven by stronger export order books, as a rounded balance of 11 per cent of manufacturers reported above-normal overseas demand in August, compared with 2 per cent in July.

Anna Leach, the CBI’S head of economic intelligence, said the Brexit-hit pound – which has made UK goods cheaper for overseas buyers – is to thank for the rise.

The poll also found that a balance of 19 per cent of manufacturers were expecting a rise in output prices over the next three months.