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Manufacturers' Orders Tumble Faster Than Expected

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http://www.guardian.co.uk/business/2008/ju...a.manufacturing

The British manufacturing sector will enter a technical recession in the next three months if output continues to fall.

The Confederation of British Industry (CBI) said that they expect manufacturing output to be -0.4% in the three months to June and -0.5% in the three months to September, pushing the manufacturing sector into recession for the first time since 2005.

British manufacturers' orders tumbled more than expected in July while price pressures surged at their sharpest rate in more than 18 years.

This latest evidence of growing pressures in the economy follows the Bank of England interest rate meeting minutes earlier today and again highlighted the dilemma faced by policymakers trying to juggle above-target inflation and the prospect of the economy sliding into recession.

Today's CBI industrial trends survey, which marks its 50th year this week, showed that a balance of +8% of firms thought their order books were below normal for the month following a balance of +1% recorded in June.

The low balance marked a return to the negative perceptions recorded in April and May. Analysts had forecast a milder slump to -5%.

Howard Archer at Global Insight said: "The CBI survey adds to the evidence that the manufacturing sector is increasingly struggling in the face of slowing domestic demand, weakening activity in key export markets, elevated energy and commodity prices, and tight credit conditions."

At least the manufacturing base can take the job losses for the stupidity of the financial sector. It's not like we need a manufacturing base when we've got the geniuses in the City.

This will give Mystic Merv a few more headaches and the text books don't tell him what to do. Does this mean he might actually think outside the box.

God forbid that might happen as he might have to upset some of his banker friends.

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http://www.guardian.co.uk/business/2008/ju...a.manufacturing

At least the manufacturing base can take the job losses for the stupidity of the financial sector. It's not like we need a manufacturing base when we've got the geniuses in the City.

This will give Mystic Merv a few more headaches and the text books don't tell him what to do. Does this mean he might actually think outside the box.

God forbid that might happen as he might have to upset some of his banker friends.

Completely anedotally , in the last 2 days 2 people I know who work in manufacturing sort of (one worked at JCB the other at Toyota) , were having their summer hiatus and were told not to come back 500 + 900 jobs lost.

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http://www.guardian.co.uk/business/2008/ju...a.manufacturing

At least the manufacturing base can take the job losses for the stupidity of the financial sector. It's not like we need a manufacturing base when we've got the geniuses in the City.

This will give Mystic Merv a few more headaches and the text books don't tell him what to do. Does this mean he might actually think outside the box.

God forbid that might happen as he might have to upset some of his banker friends.

Still on the bright side, it is only "technically" a recession, it's not like it's a real recession or anything, with jobs lost and the sort of thing that goes with real recessions.

Thank the lord we have the banking and finance sector to prevent a real recession.

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Re manufacturing industry and just my opinion, and always :ph34r: ? willing to be proved wrong, but I don't think the EU allows the government to help with subsidies etc. It is seen as giving an unfair advantage. However, the fact that energy is cheaper in say, France, isn't taken into account either. Bit like heads you lose, tails you lose.

Still, I expect it gives some Government minister a warm glow to know that the BoE is quietly helping out the financial sector!

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galvanised steel sections up 28% July 1st, and expecting a further rise August 1st.

We are pricing ourselves out of the market.

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The following is the latest risk review from Jardine Lloyd Thomson, the world's largest insurance broker. Spain has been downgraded for property collapse and personal debt. 'Under Review' we have three of planet's most pisspot nations and OMG.... the UK!

The World Risk Review™

July 2008

Welcome to the World Risk Review bulletin. Our bulletins are designed to update you on country, regional or international developments that affect the level of risk associated with a range of political and economic perils that could cause financial loss.

Risk Rating Update

Downgrades

Ecuador - The government has repeatedly denied any intention of nationalising the mining sector but further details on the new rights and obligations to be imposed on the sector are yet unknown.

Mongolia - Recent riots which saw violence on an unprecedented scale have revealed the destabilising impact of the growing economic divide between the new rich and those struggling to survive on $2 a day.

Russia - Resource nationalism has now been codified in law. The move will undermine a raft of public offerings on foreign stock exchanges by Russian companies and may reduce flows of foreign money into Russian markets.

Spain - The Spanish economy is under siege from a downturn in the property market and record levels of personal debt. Economic disparities are compounded by low productivity growth, wage growth and consumer-led price inflation that are eroding competitiveness. The signs are that a recession is on the way.

Countries Under Review

Countries now 'under review' are Indonesia , Romania , Slovakia and United Kingdom.

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never mind,recession in the UK can be averted by redirecting the construction sector to plant pointless traffic islands with nice little metal "bear left" signs,and by detailing traffic wardens to swoop on school"no waiting" zones at pick-up time for the kids.

I kid you not,this is already happening.

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galvanised steel sections up 28% July 1st, and expecting a further rise August 1st.

We are pricing ourselves out of the market.

Not just Galv. Mild as well.

Stainless seems to have come down a bit, but it has been crazy for months!

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never mind,recession in the UK can be averted by redirecting the construction sector to plant pointless traffic islands with nice little metal "bear left" signs,and by detailing traffic wardens to swoop on school"no waiting" zones at pick-up time for the kids.

I kid you not,this is already happening.

It's sickening really. Near me, smallish town, local theatre group puts on a biennial show... 8:0pm, whilst theatre goers are there supporting their friends, family, kids and community, the Blue Meanies make a special trip to catch them out. No real traffic problem - there are some unnecessary double yellows which should be painted out - just an opportunity to 'do' those who rushed to get there. 8:0pm! The performance interrupted whilst the audience is warned the wardens are about!

This is what has become of our country. Keep the masses down, fleece them, guilt them; the real wrong-doers carry on, and mock us as they do.

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Mine is more of an anecdotal. My firm is now taking orders for 2011. Steel is going up but so are our prices to cover it and our clients only have an option of 4 suppliers and the other 3 are just as busy as me.

Interestingly Siemens are cutting jobs back in the admin and sales side, yet taking on more engineers. Shurely they can't have realised who make money. They need more accountants and admin. Mind you they are German so what do they know about the economy.

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  • 399 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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