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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 reported 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."
(MB/SP)
In a latest regional trends survey, published today (Friday) by the CBI and Experian, manufacturers reported 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."
(MB/SP)
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The stresses in the earth’s crust which have resulted from the South East Asia earthquake and subsequent tsunami on Boxing Day 2004 have significantly increased the risk of another large earthquake in the already-devastated Indonesian island of Sumatra, new research findings by scientists from the University of Ulster’s School of Environmental Scie
Tsunami hit area could be hit again - UU
The stresses in the earth’s crust which have resulted from the South East Asia earthquake and subsequent tsunami on Boxing Day 2004 have significantly increased the risk of another large earthquake in the already-devastated Indonesian island of Sumatra, new research findings by scientists from the University of Ulster’s School of Environmental Scie
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Northern Ireland WeatherToday:A mostly dry day, rather cloudy, but some sunny spells, best of these in the afternoon. A few showers spread south from late morning, turning wintry in the afternoon. Maximum temperature 5 °C.Tonight:A cold evening and night with a frost. It will be largely dry, but a few wintry showers towards the north coast overnight. Minimum temperature -3 °C.
