Cost of credit hits manufacturers

The cost of credit has shot back up this year, manufacturing body EEF revealed today. In the first credit survey since the Project Merlin announcement last month, the balance of respondents reporting a rise in credit costs jumped to 32 per cent, from 19 per cent in the final three months of 2010. “While there appears to have been some easing in availability, for many smaller companies the question is still ‘at what cost?’” said EEF’s Lee Hopley.