In August 2012 domestic orders boosted UK manufacturing output.?The sector as a whole continues to shrink however??In both China and the Eurozone region output for August was shrinking. There are fears that this indicates that China?s economy is slowing rather faster than originally anticipated.
Heartened at news of UK manufacturing shrinkage slowing, economists believe however that the current demand for goods remains lacklustre and insubstantial in terms of providing a sustained recovery in the sector.
UK orders remained in decline but did experience their sharpest monthly jump since 1992.
It appears that demand from emerging markets is weakening and that trading conditions are the toughest they have been since early 2010.
Manufacturing output is however expected to rebound in 2013 according to recent reports.
The UK?s economy relies heavily on exports as a source of growth and on the BBC News website, EEF chief economist Lee Hopley expressed concern that the risk of a more prolonged period of weak growth in global markets may continue to make economic rebalancing an uphill struggle can?t be ruled out.
Tom Lawton Head of Manufacturing at business advisers BDO stated on the BBC News website that he believed it was positive news that manufacturers were continuing to invest.
One thing is certain ? whenever and wherever an upturn in the market may occur, manufacturers in the UK will doubtless be keen to prepare for it.
By: Kerry McPhail
Source: http://www.businessnetworkinglink.com/2012/09/uk-manufacturing-news/
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