12/11/2004
NI manufacturers could be among worst hit, warn CBI
Northern Ireland is likely to be one of the worst hit regions according to a Confederation of British Industry (CBI) survey warning that 22,000 manufacturing jobs in the UK are under threat.
In a latest regional trends survey, published today (Friday) by the CBI and Experian, manufacturers saw output growth subdued across the UK in the three months to October as exports were hit by weak international demand.
Closer to home manufacturing output in Northern Ireland fell sharply for the third consecutive time, while business optimism and export markets also fell sharply in the province despite a continuing fall in unemployment levels.
Peter Gutmann of Experian said: “International demand has been less supportive to manufacturing than might have been expected, given that the global economy continues to expand at a healthy pace and that sterling has eased in recent months. The muted picture reflects the fact that export orders have been very disappointing.
Doug Godden, CBI Head of Economic Analysis, added: "The impact of rising costs on profitability is a major issue for the second survey in succession. We know from the national results that energy-intensive and metal-related industries are being hit hardest.
"The regional pattern reflects this, with the West Midlands and northern regions of England seeing the sharpest cost increases. It is critical that the Bank of England and the Treasury take note. Now is not the time for further increases in interest rates or rises in business taxation."
(GMCG/MB)
In a latest regional trends survey, published today (Friday) by the CBI and Experian, manufacturers saw output growth subdued across the UK in the three months to October as exports were hit by weak international demand.
Closer to home manufacturing output in Northern Ireland fell sharply for the third consecutive time, while business optimism and export markets also fell sharply in the province despite a continuing fall in unemployment levels.
Peter Gutmann of Experian said: “International demand has been less supportive to manufacturing than might have been expected, given that the global economy continues to expand at a healthy pace and that sterling has eased in recent months. The muted picture reflects the fact that export orders have been very disappointing.
Doug Godden, CBI Head of Economic Analysis, added: "The impact of rising costs on profitability is a major issue for the second survey in succession. We know from the national results that energy-intensive and metal-related industries are being hit hardest.
"The regional pattern reflects this, with the West Midlands and northern regions of England seeing the sharpest cost increases. It is critical that the Bank of England and the Treasury take note. Now is not the time for further increases in interest rates or rises in business taxation."
(GMCG/MB)
Related Northern Ireland Business News Stories
Click here for the latest headlines.
31 October 2005
SMEs face tough short-term prospects
Higher oil and energy prices have combined with falling demand and stagnating prices to make life tough for small and medium-sized manufacturers – and the CBI say many firms fear worse is yet to come.
SMEs face tough short-term prospects
Higher oil and energy prices have combined with falling demand and stagnating prices to make life tough for small and medium-sized manufacturers – and the CBI say many firms fear worse is yet to come.
13 May 2002
CBI survey reveals end of recession for SMEs
A new survey from the Confederation of British Industry (CBI) has revealed that small and medium-sized manufacturers have seen their first rise in business confidence for over a year.
CBI survey reveals end of recession for SMEs
A new survey from the Confederation of British Industry (CBI) has revealed that small and medium-sized manufacturers have seen their first rise in business confidence for over a year.
22 February 2002
CBI pressures government over plight of UK manufacturers
The Confederation of British Industry (CBI) have published a strategy document to put pressure on Trade Minister Patricia Hewitt to help the beleaguered manufacturing industry.
CBI pressures government over plight of UK manufacturers
The Confederation of British Industry (CBI) have published a strategy document to put pressure on Trade Minister Patricia Hewitt to help the beleaguered manufacturing industry.
15 November 2024
Electric Shock Report To Launch At NI's Premier Electrical Industry Event
A new report aimed at tackling the widespread underreporting of electric shocks within the electrical industry in Northern Ireland will be launched later this month, as part of the Electrical Training Trust's (ETT) 'Save Our Sparks' campaign.
Electric Shock Report To Launch At NI's Premier Electrical Industry Event
A new report aimed at tackling the widespread underreporting of electric shocks within the electrical industry in Northern Ireland will be launched later this month, as part of the Electrical Training Trust's (ETT) 'Save Our Sparks' campaign.
13 February 2006
High energy prices could result in job losses
Employees will be at risk of losing their jobs if energy prices remain high according to a SME Trends Survey by the Confederation of British Industry (CBI). The sustained high price of oil is forcing up costs for smaller manufacturers while their selling prices are weakened by low consumer demand.
High energy prices could result in job losses
Employees will be at risk of losing their jobs if energy prices remain high according to a SME Trends Survey by the Confederation of British Industry (CBI). The sustained high price of oil is forcing up costs for smaller manufacturers while their selling prices are weakened by low consumer demand.