New figures released yesterday have suggested that the UK’s manufacturing sector contracted for July, amid lower domestic demand.
The Markit/Cips manufacturing purchasing managers’ index fell to 49.1, after reaching 51.4 in June. A figure under 50 indicates a contraction.
Job losses were also recorded across the sector as overall conditions deteriorated.
However, UK manufacturers are still seeing success with exports, as the weak pound kept costs lower. Inflation on input costs also slowed.
This news came shortly after UK GDP predictions for 2011 as a whole dropped.
Can we help?
Skipton Business Finance has a track record of successfully helping Manufacturers wanting to take advantage of the strong import and export market.
Why not give one of our esteemed, award-winning staff a call today, to find out more about our flexible and first-rate invoice finance facilities and to see what we can offer you.