The CBI Industrial Trends output volumes index remained weak at -12 in February, only slightly higher than the -13 reading in January, with output falling in 16/17 sub-sectors.

• However, expectations improved from -19 in January to 8 in February.
• The total order books index improved 6 pts to -28 (vs -30 expected), and the export order books index edged up 2 pts to -36. Both still point to very weak demand conditions.
• The selling price inflation index eased -8 pts to 19 but remains above the long-term average of 7.