|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |   
16th of October 2010
|    Banking  |   Insurance  |   Property  |   Mortgages  |   Economy  |   Investments  |   Credit Cards  |   Debt  |   Loans  |   Pensions  |   Companies  |  
October 1, 2009    

UK factory activity dips in September

Bookmark and Share

by Kay Murchie

The Chartered Institute of Purchasing & Supply (CIPS) index has revealed a fall in UK manufacturing activity in September by falling to 49.5 from 49.7 in August.

The data shows that employers reduced headcount for the 17th consecutive month, while the rate of pick-up in new orders slowed.

The fall was a surprise to many analysts who were expecting a rise to 50.3. Back in July, the index rose above the crucial 50 level but has since dipped below.

However, while a reading below the 50 mark represents a contraction in activity, the CIPS and Market (compiler of the survey) were optimistic about the figures.

Rob Dobson, senior economist at Markit, said: “The picture is one of consolidation not contraction.”

Mr Dobson added: “New orders are rising, sterling is supporting export sales as overseas markets improve and the key orders-inventory ratio remains at an elevated level.”

In other news this week, the Office for National Statistics (ONS) revealed that the UK economy contracted by 0.6% in the April to June period - rather than the 0.7% previously reported and the 0.8% reported prior to that.

According to the ONS, manufacturing output fell 0.1% in the second quarter, which was half the amount previously estimated, while the fall in construction output was 0.8%, revised from the original 2.2%.

The figures bring hope that the UK will exit recession in the third quarter by experiencing positive growth.

Discuss this in the Finance Markets forums

Story link: UK factory activity dips in September

Need a loan? Apply for one now!
Personal loan application
  • Over 100 lenders
  • Instant decision
  • No obligation quote
  • Safe, easy, and simple
  • Your data is protected

Related financial stories to: UK factory activity dips in September:
Previous: «
Next: »

Visited 793 times, 1 so far today

No Comments »

No comments yet.

RSS feed for comments on this post.

Leave a comment

Tags: , Chartered Institute of Purchasing & Supply, , , , , , , , , , ,


Economy News feed Economy News

All Financial News feed All Financial News