Fewest manufacturers since 2007 find rising credit costs

Julian Harris
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THE PROPORTION of factories reporting rising costs of credit has fallen to its lowest rate since 2007, an industry group has revealed today.

The EEF hopes that its latest survey marks a turning point in the cost of borrowing for manufacturers in the UK.

The balance of companies in the sector finding an increase in the cost of credit has fallen to 11.2 per cent from 21.2 per cent in the second quarter, EEF says.

This balance has not been lower since EEF began its credit survey in quarter three of 2007.

“However, there are still more companies saying the cost of finance is going up rather than down,” complained the group’s economist Lee Hopley.