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01/02/2002
Rate of UK manufacturing decline slows
There was a glimmer of hope for the troubled UK manufacturing sector on Friday, February 1, with the release of latest figures on the sector's performance.
The report from the Chartered Institute of Purchasing and Supply (CIPS) revealed that although manufacturing activity had again declined in January, the rate of decline was showing signs of slowing.
The CIPS study indicates that the UK manufacturing has shrunk for eleven consecutive months. However, within the manufacturing industry the UK consumer sector remains relatively buoyant, mirroring the continuing strong levels of consumer demand and spending.
CIPS measurement of economic activity, the Purchasing Manager's Index (PMI), rose to its highest point in three months, but still showed an overall reduction in UK manufacturing activity.
The UK slowdown was attributed to the worldwide economic contraction and with the value of sterling remaining high UK exports have been affected by the strength of the pound.
Again the only real encouragement is that the consumer sector continues to support the domestic retail market. (SP)
The report from the Chartered Institute of Purchasing and Supply (CIPS) revealed that although manufacturing activity had again declined in January, the rate of decline was showing signs of slowing.
The CIPS study indicates that the UK manufacturing has shrunk for eleven consecutive months. However, within the manufacturing industry the UK consumer sector remains relatively buoyant, mirroring the continuing strong levels of consumer demand and spending.
CIPS measurement of economic activity, the Purchasing Manager's Index (PMI), rose to its highest point in three months, but still showed an overall reduction in UK manufacturing activity.
The UK slowdown was attributed to the worldwide economic contraction and with the value of sterling remaining high UK exports have been affected by the strength of the pound.
Again the only real encouragement is that the consumer sector continues to support the domestic retail market. (SP)
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12 March 2002
UK manufacturing output continues to slide
The latest government figures have shown UK manufacturing output was down 0.4 per cent on December's figure, 6.1 per cent lower compared with January 2001. The Office for National Statistics (ONS) revealed that the UK's industrial output continued to fall in January, down 0.
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07 March 2002
UK interest rates remain unchanged
Interest rates are to remain unchanged at 4 per cent for a further month amid signs that the UK manufacturing sector may at last be on its way to recovery.
UK interest rates remain unchanged
Interest rates are to remain unchanged at 4 per cent for a further month amid signs that the UK manufacturing sector may at last be on its way to recovery.
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