Rolling coverage of the latest economic and financial news, with result of referendum on CBI’s future expected between 4pm and 5pm today
Elsewhere in the global economy, German manufacturers have suffered another drop in orders, raising fears over an economy already in recession.
German factory orders dropped by 0.4% month-on-month in April, dashing expectations of a 2.8% rise, driven by a slump in large-scale orders. That follows a 10.9% drop in factory orders in May.
German factory orders this morning are quite weak at –0.4% vs +2.7% forecast, though nowhere near as bad as the revised 10.9% decline in the previous month.
