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The Confederation of British Industry (CBI) survey showed the UK’s total order book balance improved to a three-month high of -32 in December 2025 from -37 in November and better than analysts' estimates of -35. Still, the index remained well below the long-run average of -14. The survey revealed that export orders fell the least since July and output expectations for the next three months rose to their highest since September. "Activity was clearly held back by uncertainty ahead of the Budget, and with that now out of the way, firms can look to 2026 with a little more certainty," CBI economist Ben Jones said. "Significant headwinds remain nonetheless, with demand still soft, high energy, labour and regulatory costs squeezing margins, and uncertainty around key policies and global conditions continuing to weigh on confidence," he added.