Manufacturing

UK Economy Grows 0.6% In Q4 Despite Brexit Concerns

UK Economy Grows 0.6% In Q4 Despite Brexit Concerns

The UK economy grew 0.6% in Q4, despite fears the UK’s decision to leave the EU would slow growth. According to the ONS, economic growth between October and December 2016 was identical to the two previous quarters, with the economy growing by 2% in 2016 – compared to 2.2% in 2015. Strong performances by the services and retail sectors were cited as being the main reason behind the surprising results, with the former growing by 0.8% in the last quarter. The manufacturing industry also bounced back from a slow Q3, with its quarterly growth figure of 0.7% slightly better than the 0.5% rate most economists had expected. The figures also showed that the construction industry grew by 0.1% and agriculture by 0.4%, while industrial production was unchanged. Paul Goodman, chairman of the Nati... »

UK Economic Growth Slowest in Three Years

UK Economic Growth Slowest in Three Years

The UK’s economic growth is at its lowest in three years, according to a report by the Confederation of British Industry (CBI). The survey of 759 respondents across the manufacturing, retail and services sectors, showed the pace of growth has dropped to its slowest rate since May 2013. Last week official figures put UK growth at 0.5% in the last quarter of 2015, the slowest for three years. The slowdown was mainly driven by the business and professional services sector – which includes management, legal services and telecoms. In the manufacturing sector, output and new orders were flat, but growth in the consumer services sector remained consistent, and retail sales volumes grew at an above average pace. Despite the negative trend, the outlook for businesses over the next three months is m... »

Bank Lending Improving in the Manufacturing Sector

Bank lending to manufacturing firms improved in April and May for the first time since the end of the recession, manufacturing organisation the EEF has said. The EEF survey of 500 small manufacturing firms found that the same number of businesses reported a rise in bank lending in April and May, as reported a fall. In comparison, in February and March more firms saw a drop in access to credit than an increase. The findings come despite reports that UK banks are failing to deliver on their lending targets to small firms under the Project Merlin agreement (PDF). Recent figures from the Bank of England (BoE) highlighted that the top five UK banks loaned £16.8 billion to small firms in the first three months of 2011 ? despite a target of £19 billion per quarter under Project Merlin... »

Manufacturing Sees Strong Growth

Small Business News – Monday 3rd September 2007 UK Manufacturers have recorded their best performance figures in over 10 years according to a joint report by the EEF business group and financial firm Grant Thornton. In addition the survey also found that domestic orders have exceeded exports for the first time since Q4 of 2002. Despite the current turbulence in world financial markets, this news is a boost for the UK’s small business sector, although caution is advised. The key findings of the report also include: Strong activity in Q3 Export orders being exceeded by domestic orders Increased strength in investment intentions & employment Improved business optimism for Q4 Revised upward growth forecasts revised for 2007 & 2008 »