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CBI announces manufacturing confidence at 30 year low

Today's announcement that confidence in the UK manufacturing industry is at a 30 year low is yet another knock for an industry which has been under pressure for over a decade. As the UK economy moves towards a service based operation much of the historic manufacturing in the UK has been moved overseas. However, those which have remained had learnt to move with the times and keep themselves lean and mean for the future.

Unfortunately the double whammy of reduced financial assistance and a collapse in consumer demand in the UK has pushed many UK manufacturers into serious trouble. As demand on the high street and other areas of the UK economy continues to fall there is very little that many of these manufacturing companies are able to do without government assistance. To say this is a critical point in the UK manufacturing industry is something of an understatement as many parts could literally disappear forever.

It will be interesting to see if the UK banking sector takes heed of Gordon Brown's warning and also what he may do if they decide to carry on as normal. Each and every way Gordon Brown turns at the moment there appears to be another fight for him to battle.

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