Qualified advisers answering your
Financial Questions
call 0800 092 1245

Manufacturing Sector Experiences Three Year Low

The month of July saw Britain’s manufacturing sector succumb to its biggest slump in more than three years. A survey of purchasing managers revealed that the whole sector had shrunk at the fastest rate since 2009, dealing a further blow to the UK economy.

Britain was officially back in recession this summer, after two consecutive quarters of decline, that saw the economy shrink by 0.7pc. While the reasons why this has happened are widely disputed, there is no denying from anyone that only the second double-dip recession since World War 2 is becoming increasingly damaging to the UK.

And now much of the focus has turned to the manufacturing sector, where it has been revealed that both new orders and output have dropped.

However there is still hope that the country could turn the corner and pull itself out of recession before the end of 2012, and the new Funding for Lending scheme launched in July will help smaller companies within the manufacturing industry to commit more to growth and development. The scheme is also hoped to be beneficial for the housing market, allowing banks and building societies to issue lower rate mortgages than currently available.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details