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UK manufacturing continues to struggle
shortchanged_2
Posts: 5,546 Forumite
http://www.bbc.co.uk/news/business-13612322
The coalitions hopes of a strong manufacturing base to pull the UK economy forward seem to be fading.
What does the UK do now to avoid a recession coming this year?
The coalitions hopes of a strong manufacturing base to pull the UK economy forward seem to be fading.
What does the UK do now to avoid a recession coming this year?
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Comments
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Recharge the smoke machines and dust off the mirrors?There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...0
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To look at the report in a slightly more positive light, an equally accurate headline would be, 'British Manufacturing Continues to Grow'.
If the PMI is greater than 50, manufacturers surveyed are reporting growth.0 -
To look at the report in a slightly more positive light, an equally accurate headline would be, 'British Manufacturing Continues to Grow'.
If the PMI is greater than 50, manufacturers surveyed are reporting growth.
I did read that Generali but I think the concenus is that growth is not as strong as they would like or expect.0 -
What's not good as well though is that the U.S., European and Chinese PMIs are also now indicating that demand from overseas markets is also slowing, especially when the UK is trying to boost exports, aided by the weakness of GBP.There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...0
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manufacturing continues to grow. we're all doomed.
meanwhile, consumer confidence is at -21, but that's a positive sign!0 -
Disappointing numbers despite the growth. Services and manufacturing need to pick up the slack from reduced government services and construction. The UK numbers are pretty much inline with the rotw:WASHINGTON (MarketWatch) -- The J.P. Morgan global manufacturing PMI -- a weighted average of the ISM and similar manufacturing indexes from across the globe -- fell for the third straight month, slipping to 52.9 in May from 55.0 in April. Any reading above 50 indicates growth. It's the lowest level since Sept. 2010, and comes as the U.S. hit a 20-month low, the euro zone reached a seven-month low, China reached the worst level since July 2010, the U.K. reached a 20-month low and India hit a four-month low. Japan's PMI rose sharply following the earthquake-affected readings of March and April.
Perhaps we'll see a rebound in June as halted production, due to a lack of Japanese components, restarts."The state is the great fiction by which everybody seeks to live at the expense of everybody else." -- Frederic Bastiat, 1848.0 -
shortchanged wrote: »I did read that Generali but I think the concenus is that growth is not as strong as they would like or expect.
The good news is that employment in the manufacturing sector is continuing to grow.
At the moment any growth is to be welcomed. As a long road ahead to rebalance the economy.0 -
Perhaps we'll see a rebound in June as halted production, due to a lack of Japanese components, restarts.
Honda (Swindon) is currently on a 2 day week until at the least the end of July.
Toyota is currently working 3 half days a week.
Nissan is currently working on plans to restore full production by October.0 -
My fear is that UK Q2 growth (indeed if any) will struggle to reach the 0.5% of Q1. I know that my view over the past year or so has generally been that we will have a double dip, but then, as posted before, why not a triple dip, or more (this would be largely based on further Government intervention)? IMHO I still think that it will be mighty close for the former, at the very least anyway.There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...0
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It's absolutely confusing! I mean we have all these things to help British Business - Minimum Wage, Regulators, Health & Safety, Maternity Leave, Guaranteed work after 65, 12% National Insurance, European Standards legislation, Transport & Dock workers' unions...... and we seem not to manufacture anything, let alone export it. I just can't explain it!0
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