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The UK’s total order book balance rose to -28 in February 2026 from -30 in January, according to the Confederation of British Industry (CBI). While this indicates that industrial orders are still declining, they are doing so at their slowest pace since September. Even so, order levels remain historically weak. Export order books were also described as below “normal,” though they improved slightly to -26 from -30 in January. Over the three months to February, manufacturing output continued to contract, but the pace of decline eased compared with the three months to January (-14 vs -25). Expectations for average selling price inflation remained high at +26% in February, down modestly from +29% in January yet still far above the long-run average of +8%. CBI Senior Economist Cameron Martin noted that the downturn in manufacturing output had moderated in February after a challenging start to the year, but many firms still report that customers are delaying orders amid weak confidence and ongoing cost pressures.
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