UK: CBI Manufacturing Order Book Balance improves to -24 in February from -38

The data from the UK showed on Friday that the CBI's Manufacturing Order Book Balance rose to -24 in February from -38 in January and surpassed the market expectation of -35. 

Furthermore, the Manufacturing Output Expectations Balance jumped to -2 from -24 in January.

Commenting on the data, "manufacturing activity remains patchy but so far appears to have taken a smaller hit than in previous lockdowns," CBI economist Alpesh Paleja said, per Reuters.

Market reaction

The British pound preserves its strength after this report and the GBP/USD pair was last seen gaining 0.2% on the day at 1.3999.