The latest CBI Industrial Trends Survey says Britain had an ‘unexpected’ exports boost.
This prompted a headline in The Sun that the ‘UK’s got the BREX Factor, after good post-Brexit news on exports, jobs and house building.
Exports: Manufacturers say orders from abroad for goods are at their highest since 2014.
Jobs: Quarter of firms intend hiring permanent staff in the next 3 months and only 3% cutting back.
Housebuilding: Persimmon said visitor numbers to its sites are up by 20% since UK Referendum
The construction workforce reached 2.3m in Q2 2016 – its highest level on recorded since the same quarter in 2009. More than 6% of the UK’s total workforce is now employed in construction
There were 31.75 million people in work, 172,000 more than for January to March 2016 and 606,000 more than for a year earlier.
In Q2 2016, SME workloads continued to experience rising activity despite the uncertainty surrounding the EU referendum as more business registered higher workloads (37% vs 33%). Firms posting lower workloads fell to 13% from 21% in the three months to March 2016.
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Nearly half of contractors are operating at over 90 per cent capacity and over 80% of firms operating at 75% capacity.
Output has increased by 22% which is a substantial increase compared to the 5% and 3% recorded in the previous two surveys.
There is also a growing post-Brexit optimism among building product companies and most Builders Merchants shares are now rising.
Kingspan said new orders in the UK had risen by 7 percent year-on-year since the end of June, dispelling fears that it would be hit by Britain’s vote to leave the European Union.
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