Manufacturers want Heathrow expansion plan January 29, 2015 HEATHROW’S bid to build a third runway received a boost this morning after a leading business group added support for the plan just days before a consultation on airport expansion options closes. EEF, the manufacturers’ organisation, conducted a survey that reveals 80 per cent of companies surveyed back expansion of Heathrow over rival Gatwick. The [...]
Bain Capital swoops on historic British car parts manufacturer TI Automotive January 27, 2015 The US private equity outfit founded by former Presidential candidate Mitt Romney yesterday snapped up a century-old British car parts maker. Bain Capital, which has a substantial London presence, has bought TI Automotive, which makes parts for Europe’s leading car manufacturers. Terms of the deal were not disclosed but the transaction is thought to be [...]
Manufacturing confidence plunges from a year earlier January 5, 2015 UK manufacturers are gearing up for a tough year as the country's economy slows and global conditions worsen. The number of firms looking forward to an improved British economy slid to 37 per cent, from around two-thirds a year earlier, a survey by the EEF and Aldermore said today. Additionally, firms expecting conditions in the [...]
Eurozone manufacturing growth up slightly, but Italy hits 19-month low as France struggles January 2, 2015 After Draghi was doveish, manufacturing data was bearish. The rate of growth for the Eurozone's manufacturing sector was 50.6 compared to the Markit purchasing managers’ index score, where anything above 50 represents growth. The score brings the rate of growth for the quarter to 50.4, bumping along the line between growth and contraction [...]
UK manufacturing slows to three-month low January 2, 2015 UK manufacturing has hit an unexpected blip, slowing to a three-month low in December. The UK purchasing managers' index (PMI), from Markit/CIPS, slowed to 52.5, below the 53.7 score expected by economists polled by Reuters and lower too than the 53.3 recorded in October and November. Any score above 50 points indicates growth. [...]
Eight of Britain’s most endangered professions: Scissor-makers, denim manufacturers and beer barrel crafters December 31, 2014 Britain's fast-dying craft industry risks taking a whole number of valuable and interesting skills with it, according to the Heritage Crafts Association. This is because the skills needed to produce beautifully intricate crafted goods rests in the hands of an ageing population and could be extinct in the next five years. In conjunction with the [...]
Oil price slides further as China manufacturing contracts December 31, 2014 China's manufacturing sector contracted for the first time during December, new figures published this morning showed. HSBC/Markit's China manufacturing PMI fell to 49.6, below the 50-mark which indicates a fall, and down from 50 in November. However, the figure was revised up from an initial "flash" reading earlier in the month, which was 49.5. Last [...]
Chinese manufacturing contracts as industry hits seven-month low December 16, 2014 Chinese manufacturing has hit a speed bump, falling off a six month period of growth to record its lowest score in seven months. According to data from HSBC and Markit, the flash purchasing manager’s index score was 49.5 in December, below the 49.8 predicted by analysts, on a scale where a 50.0 equals growth. It [...]
Manufacturers’ exports hit by weak Eurozone December 9, 2014 THE UK’s manufacturing output dipped in October due to waning export demand from the Eurozone. Total manufacturing output fell by 0.7 per cent in October compared with September, according to figures published by the Office for National Statistics yesterday. Industrial production – which includes mining and quarrying, as well as manufacturing – fell 0.1 per [...]
UK manufacturing unexpectedly falls in October December 9, 2014 UK manufacturing posted a surprise fall of 0.7 per cent for October, after rising 0.6 per cent the previous month, according to figures released by the Office of National Statistics (ONS). Economists had been expecting an increase of 0.2 per cent in industrial and manufacturing output for October. The slump was driven primarily by a 4.5 [...]