Positive news emerged from the manufacturing sector yesterday, as output increased both month-on-month and from the same time last year.
A 0.2% growth from August into September was recorded, whilst the sector had grown 2% in the twelve months from last September to now.
This was the first rise in output for four months and came off the back of a 0.3% decline in August.
There were mixed reactions from UK business bodies to the news, as some heralded the continued strength of a sector always likely to experience difficulties, whilst others saw any sort of growth as good news for the British economy.
UK business network, the British Chambers of Commerce (BCC), welcomed the growth figures, with chief economist for the group, David Kern, saying, “Seeing the sector remain in positive territory despite difficulties in the eurozone and tough austerity measures in the UK is reassuring.”
But Markit’s chief economist, Chris Williamson, was more damning and pointed out that the sector is expected to lead the UK’s economic recovery and that the growth isn’t quite as good as could be hoped.
Invoice finance as a funding solution
If your manufacturing business could do with a financial boost, but is struggling to access the correct amount of capital through overdrafts or loans, have you considered invoice finance?
Why not give us a call to discuss arranging a tailored invoice finance solution suitable to your needs.
Skipton Business Finance strives to continually make our processes and systems better, meaning that our clients have full confidence in the way in which we are going forwards. This means that the invoice finance solutions we provide, such as invoice factoring and invoice discounting, are set up on a system that we feel is the most proficient in the industry.