Home » Currency Note » Currency Note » Currency Note GBP » GBP: CBI industrial trends orders jump to +10

Backbench Brexiter Jacob Rees-Mogg called for Theresa May’s head yesterday and said that his fellow Conservative MPs must seize their chance to oust the Prime Minister now, or risk having her lead the Tories into the next election. There are currently 26 letters that have publicly been submitted to Sir Graham Brady, the chair of the backbenchers’ 1922 Committee, but a total of 48 must be submitted to trigger a full confidence vote.

There was some good news in the UK, with the Confederation for British Industry’s monthly industrial orders balance jumping to +10 in November 2018. It had hit a two-year low of -6 the previous month and so the news was very welcome, especially when it had been expected to fall even further to -7.

Today we will see the public sector net borrowing figures for October. Last time, the deficit fell to £3.26 billion and some economists are predicting it will widen this time around. It will also be interesting to see if any more votes of no confidence are submitted to Brady.

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