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UK manufacturing slides again but pace of decline is slowing

The UK manufacturing industry declined again in January although the rate of decline has slowed from recent months. However, there are serious concerns that the industry is in a severe downward spiral amid claims that domestic demand has evaporated and vital overseas markets have yet to kick in despite the massive reduction in the sterling exchange rate.

In truth the sector has been under pressure for many years but the ongoing recession has increased the rate of decline over the last few months, although January did offer a hint of hope for some. Many experts are confused by the apparent inactivity from international customers of the UK manufacturing sector, even though they have seen their costs slashed as the exchange rate continues to fall. This is seen by many as the catalyst to an eventual recovery although the signs for the short to medium term are not exactly encouraging.

The position of the UK manufacturing sector has also been impacted by severe job cuts across the board as businesses fight to survive and retain as much liquidity as possible. Despite the slowing rate of decline in January, many experts feel this could be just a one-off and the rate of decline could you pick up in the coming months. Quite when and how the sector will stage any form of recovery remains to be seen as life in UK manufacturing sector gets worse and worse.

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