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Category Archives: UK industry

Surprising rebound in UK manufacturing

Good news for the UK manufacturing sector. Output expanded in January at the fastest rate since March 2011. There was an increase in new orders together with a stabilisation in employment. Also, average input prices fell for the third month running causing an easing in the cost pressures which had been facing the sector. These findings are from the Markit/CIPS … Continue reading

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UK Manufacturing grinds to a halt

Manufacturing has been driving our economic recovery, such as it is, and was expected to continue to do so. But, there is bad news. Although manufacturing output grew by 0.9% in January, it failed to grow at all in February. Alan Clarke, UK economist at BNP Paribas, was quoted as saying that the data was “bitterly disappointing”. The wider measure … Continue reading

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North Sea oil could last longer than expected

The industry body Oil & Gas UK recently published its annual forecast of offshore oil and gas exploration and development activity in the UK, based on a survey of the spending plans of over 70 companies.  It revealed that the number of offshore oil and gas projects currently under consideration for development has risen sharply over the last 12 months, … Continue reading

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Mixed messages on economy

Yesterday the Halifax House Price Index for May was published and showed that prices had risen by 2.6% during the month. This followed three successive monthly falls of between 1.8% and 2.3%. Is this a sign of a much needed pick-up in the market? Well, on the surface it is good news but we must keep it in context in … Continue reading

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The worst may be over for manufacturing

The manufacturers’ organisation, EEF, has just noted in its latest survey that  “The effects of the recession appear to be stabilising in some sectors as destocking nears an end….The weakness in world markets has hit the sector hard, but it looks like manufacturers are now close to the bottom of the cycle.”   The “stock cycle” has a major impact … Continue reading

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Lending to UK businesses remains weak

A study by the Bank of England entitled “Trends in Lending” has just been published. This shows that net lending to businesses has remained weak. The official data covers lending by all banks and building societies and shows that the monthly flow of net lending in March 2009 was “subdued, though positive.”  When looking at the three month annualised growth … Continue reading

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Orders and output plunge for smaller UK firms

Orders for goods and output fell at the fastest rate for 20 years at small and medium-size enterprise (SME) according to the Confederation of British Industry (CBI) in their latest quarterly SME Trends survey published this morning.   The CBI surveyed 484 firms, of which 64% saw the volume of total new orders fall in the three months to April, … Continue reading

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Manufacturing declines at its slowest rate for six months

It’s a pity that the only good news says that things are still getting worse, but they are getting worse more slowly. But there we are. Between January and February, manufacturing output decreased by 0.9% compared to a 3% decline in January. Most forecasters were expecting a fall of about 1.5% so it appears that this really was good news. … Continue reading

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Fastest fall in UK manufacturing since January 1981

According to the Office of National Statistics, manufacturing output fell by 2.9% between December and January, which was much faster than previously forecast. In the three months to January 2009 manufacturing output decreased by 6.4% compared with the three months to October 2008. This means that manufacturing was 10.4% lower than the same period a year ago. The changes in … Continue reading

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