Investing.com - UK CBI industrial trends orders rose more than expected in December, industry data showed on Monday.
In a report, the Confederation of British Industry said that CBI industrial trends orders rose to 17, from the same bumper figure in November.
Analysts had forecast CBI industrial trends orders to dip slightly to 14.
Motor vehicles and transport equipment and the mechanical engineering sector drove growth. Export order books were lower than November, but remained strong.
The December figure was near a 30 year high. A dip lower in December was widely expected due to increasing price pressures.
The better than expected factory order data shows that the fall in the value sterling since the Brexit referendum is helping manufacturers.
Anna Leach, CBI Head of Economic Intelligence, commented: 'As we head towards the end of 2017, UK manufacturers’ total order books remain at a near 30 high, with export order books remaining at their strongest since the mid-1990s. While the lower level of sterling continues to support exporters, cost pressures remain intense.'
The pound edged higher on the better than forecast data. After the report, GBP/USD was trading at 1.3353 compared to 1.3343 prior while EUR/GBP was at 0.8834 from 0.8839 immediately before.