FTSE hits 2015 low as China stocks plummet after sharp contraction in manufacturing August 21, 2015 The FTSE 100 hit a new intraday low for 2015 this morning, falling as low as 6,328 points, after shock manufacturing figures from China pushed markets across the world lower. Figures published overnight showed Chinese factories contracted at their fastest pace in six and a half years in August. The Caixin/Markit purchasing managers' index for [...]
Manufacturers and home sales buoy US outlook August 20, 2015 Manufacturers in the Philadelphia region are growing strongly this month, according to survey figures released yesterday, easing fears over the sector’s health. Meanwhile, US existing house purchases rose to an eight-year high last month, showing that consumer spending was in fine fettle. The Philadelphia Federal Index ticked up to a score of 8.3 this month from [...]
CBI industrial trends survey: Manufacturing orders unexpectedly improve in August August 20, 2015 A widely watched industry survey has shown manufacturer's order books unexpectedly improved this month. The CBI's industrial trends survey showed monthly total order book balance increased to -1 from -10 in July. Economists had expected it to remain stagnant. Output continued to grow at a steady pace in the three months to August, and this should continue [...]
Lexus hoverboard video: Manufacturer says it has created a levitating board called Slide, using superconducting magnets August 10, 2015 Has Lexus just created a hoverboard? The company has released details of a “frictionless movement” vehicle called Slide, which it says uses magnets inside a chassis to levitate. The Lexus Hoverboard operates using magnetic levitation to achieve amazing frictionless movement. Liquid nitrogen cooled superconductors and permanent magnets combine to allow Lexus to create the impossible. [...]
UK industrial production falls on oil and gas as manufacturing output shows modest growth August 6, 2015 UK industrial output has unexpectedly fallen by 0.4 per cent in June, led by oil and gas output falling. Industrial output fell compared to an increase of 0.3 per cent in May and compared to expectations of a 0.1 per cent rise in June, according to figures from the Office of National Statistics. The fall [...]
Greece debt crisis: With today’s stockmarket shocks and manufacturing data, further economic contraction seems inevitable August 3, 2015 Further economic contraction in Greece seems inevitable after today's bad news. Not only have bond yields returned to 2012 levels, Greek stocks plummeted to a three-year low as soon as the market re-opened, with all major banks hit hardest. And then of course there are the manufacturing figures. The three-year Troika austerity programme’s challenges to [...]
UK manufacturing growth ticks up in July August 3, 2015 The widely watched Markit/CIPS manufacturing purchasing managers' index (PMI) rose to 51.9 in July, ahead of the previous month's reading of 51.4, and above the crucial 50 mark which indicates growth. But it remained well below the average of 54.3 recorded since April 2013, when the UK economy was beginning to bounce back from the [...]
Purchasing Managers’ Index: Eurozone manufacturers shrug off Greek debt crisis in July August 3, 2015 The Eurozone's manufacturing sector continued to grow modestly in July, suggesting any effect from the Greek debt crisis remained limited. Markit's Eurozone manufacturing PMI hit 52.4 in July, ahead of the earlier flash estimate of 52.2, and also above the crucial 50 mark which indicates growth. This also meant it managed to hold close to June's [...]
Sheffield shows why manufacturing and finance enjoy a glorious synergy August 2, 2015 My title might be “lord mayor of the City of London”, but really that’s quite misleading. It’s my job to represent the whole of the UK’s financial and professional services industry, wherever it’s based. London may well be the largest single financial services centre in the UK, but 1.7m of the 2.1m people employed by [...]
Britain is a great place for manufacturing – and businesses like mine prove it July 29, 2015 Some say that manufacturing in the UK has become unfashionable. The most recent figures show that the UK continues to operate a substantial trade deficit, standing at £400m in May this year. This was caused by our goods sector, where we operated a startling £8bn deficit. These numbers can be hard to contextualise. What they [...]