Shock drop in UK factory orders fuels doubts regarding economic recovery
October 25, 2012, 11:39 am TWN
LONDON -- British factory orders posted a surprise fall in October, the CBI's industrial trends survey showed on Wednesday, fueling fears that a recent timid economic recovery may not last.
Britain probably came out of recession between July and September. Third-quarter gross domestic product figures due on Thursday are expected to show solid growth, boosted by a one-off rebound after an extra public holiday hit output in June.
But Bank of England Governor Mervyn King warned on Tuesday that a slowdown in emerging markets posed a new threat to the British economy, adding that the central bank was ready for more stimulus should positive signs of recovery fade.