Manufacturing confidence plunges from a year earlier

first_img Jessica Morris Share Monday 5 January 2015 4:13 am UK manufacturers are gearing up for a tough year as the country’s economy slows and global conditions worsen.The number of firms looking forward to an improved British economy slid to 37 per cent, from around two-thirds a year earlier, a survey by the EEF and Aldermore said today. Additionally, firms expecting conditions in the UK to deteriorate more than tripled to 17 per cent from five per cent this time last year, according to the survey of 166 senior manufacturing executives.Geopolitical concerns, rising input costs, unfavourable exchange rate movements and upward pressure on pay topped manufacturers’ list of concerns.UK manufacturing fell to a three-month low of 52.5 in December, according to the Markit/CIPS UK purchasing managers’ index (PMI). The reading was above 50 points which indicates growth, but missed economists’ expectations of 53.7.Terry Scuoler, chief executive of EEF, said:The sector is still making good strides, but confidence can be fragile and with an election on the way it is vital that uncertainty and disruption are kept to a minimum.Recovery is by no means guaranteed and we would urge party leaders – and the next government of whatever shade – to remain focused on delivering a fully balanced, stable economy where manufacturing is enabled to expand and grow.The Eurozone economy, which is one of the country’s biggest trading partners, struggled last year, ramping up pressure on the European Central Bank (ECB) to start buying government bonds at its council meeting later this month. Manufacturing confidence plunges from a year earlier whatsapp center_img whatsapp Show Comments ▼ Tags: Manufacturing sector More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekHero WarsThis game will keep you up all night!Hero WarsMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailBeverly Hills MDPlastic Surgeon Explains: “Doing This Every Morning Can Snap Back Sagging Skin” (No Creams Needed)Beverly Hills MDThe No Cost Solar ProgramGet Paid To Install Solar + Tesla Battery For No Cost At Install and Save Thousands.The No Cost Solar ProgramUltimate Pet Nutrition Nutra Thrive SupplementIf Your Dog Eats Grass (Do This Every Day)Ultimate Pet Nutrition Nutra Thrive Supplementzenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comNational Penny For Seniors7 Discounts Seniors Only Get If They AskNational Penny For SeniorsEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity Mirrorlast_img

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