Friday, Jul 10, 2009
Looks more and more like a bull trap to me!
Times online: Factory prices fall at fastest pace since 2001
The price of British-made goods fell at the sharpest pace in 8 years in June, putting further downward pressure on inflation.
Factory gate prices fell by a bigger-than-expected 1.2 per cent in the year to June — four times larger than the 0.3 per cent decline recorded for May and the sharpest decline since the end of 2001, as manufacturers battled dwindling demand.
Howard Archer, chief UK and European economist at IHS Global Insight, said: "Although the rate of decline in manufacturing activity has slowed substantially, increased spare capacity and still difficult conditions are maintaining pressure on firms to price competitively to gain business."
Posted by tim miller @ 02:20 PM (274 views) Add Comment
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