U.K. Factory Production Hits Two-Decade High as Exports Grow
- Factories expect overseas demand to grow next quarter
- The cost of production has cooled as inflation eases off
An employee adjusts an internal hub gear on a Brompton folding bicycle in the assembly area inside the Brompton Bicycle Ltd. factory in London, U.K., on Friday, May 13, 2016. The Brompton was created in 1975 by Andrew Ritchie, a Cambridge-trained engineer.
Photographer: Simon Dawson/BloombergThis article is for subscribers only.
U.K. factory production reached a two-decade high last quarter as optimism about export orders swelled to the highest since the 1970s.
A Confederation of British Industry survey showed the volume of output rapidly grew in the three months to July, with the CBI index reaching its strongest reading since 1995.