The Confederation of British Industry (CBI) today published its diffusion index on industrial order expectations for June this morning and suggested there may be positive growth in industrial demand. The figure, which revealed only a mild uptick from the expectant contraction, signals the first turnaround in news regarding demand for manufactured goods in the region.
So far the news has been outshined by other factors in today’s market, predominantly the vote on the Greece bailout, but it is a positive note in an otherwise ominous trading environment. Traders appear poised for minor short-taking on the British pound as a result, but are expected to turn bullish this week given several positive indicators for growth.
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