Manufacturing sector on cusp of return to expansion
Wednesday 01 May 2013
A “march of the makers” may finally be on the way more than two years after the Chancellor predicted it, the Chartered Institute of Purchasing and Supply said today.
George Osborne’s March 2011 Budget soundbite was quickly and embarrassingly submerged by the eurozone crisis as eurozone export markets suffered, leaving UK manufacturing shrinking or stagnating in all but one quarter since then. But CIPS’s latest snapshot of manufacturing health, where a score over 50 signals growth, improved to 49.8 in April, putting the sector on the cusp of a return to expansion.
Although firms are still shedding jobs, export orders are rising at their fastest pace since July 2011, boosted by overseas demand for consumer goods like cars and helped by sterling’s decline since the start of the year.
CIPS chief executive David Noble said: “A march of the makers may be on its way following the first rise in export sales for a year with the Americas, Middle East and Australia making up for lacklustre demand in Europe, giving the manufacturing sector something to savour.”
The better news comes after the UK avoided a triple-dip recession, dampening the chances of more stimulus by the Bank of England.
peopleContenders for Time magazine's Person of the Year are a mixture of the good, the bad and the holy
newsAs the world remembers Mandela the hero, the prison where he spent 27 years seems all the more brutal
tvSteven Moffat reveals the actor was dying to take on the role of the Time Lord and says he is excited to see what he will do with the character
sportBayern Munich 2 Manchester City 3: City come from two down to beat reigning European Champions
arts + ents... and a chance to paint Booker Prize winning author Hilary Mantel
danceUnder Tamara Rojo's inspired direction, it seems possible that it could challenge the dominance of the Royal Ballet. We meet some established names and rising stars
travelDiscover Uruguay's jet-set beach resort, an Atlantic enclave with plenty of art and culture to explore on the side
The ten coldest places on Earth
Sir Ian McKellen hits back at Damian Lewis' 'fruity actor' claims
Kenyan politician Mike Sonko left red-faced after photoshopping himself next to Nelson Mandela
Krokodil in Mexico? Teenager hospitalised after 'injecting drug into her genitals'
Nelson Mandela memorial: Cheers, jeers and a masterclass from Barack Obama that stole the show
- 1 It’s shameful that our universities have accepted gender segregation under pressure from the most oppressive religious fanatics
- 2 Sir Ian McKellen hits back at Damian Lewis' 'fruity actor' claims
- 3 Kenyan politician Mike Sonko left red-faced after photoshopping himself next to Nelson Mandela
- 4 Selfie at funeral: Cameron squeezes in on Obama snap at Mandela memorial
- 5 Is Facebook making us forget? Study shows that taking pictures ruin memories
- < Previous
- Next >
iJobs Money & Business
attractive: Citifocus: Highly prestigious Investment Management house based in...
£70000 - £90000 per annum + benefits + bonus: Pro-Recruitment Group: Our leadi...
£50000 - £65000 per annum + BONUS + BENEFITS: Harrington Starr: A leading mark...
£60000 - £85000 per annum + BONUS + BENEFITS: Harrington Starr: A leading asse...