Premier Foods’ share price tanks as Aldi, Lidl and online shopping weigh on manufacturer October 23, 2014 Food manufacturer Premier Foods reported lower third-quarter sales yesterday, hit by consumers turning to online shopping or discount chains that stock their own brands for groceries. Shares tanked 14.6 per cent on the disappointing results yesterday to close down at 29.25p. “Market conditions in the third quarter have proved to be increasingly demanding with unprecedented [...]
UK manufacturing stays strong despite decline in job numbers October 21, 2014 MANUFACTURING output in the UK is now higher than it was in the late 1970s, according to the Office for National Statistics (ONS), scotching perceptions that Britain has lost its manufacturing prowess. Manufacturing output had managed to increase despite a decline in its share of the economy and falling job numbers, the statistics agency said [...]
UK manufacturing catches a cold from Eurozone October 1, 2014 Britain’s strong recovery is under threat from the economic troubles in Europe, as data released yesterday showed the UK’s manufacturing sector continuing a sharp decline that began at the start of summer. The purchasing managers’ index compiled by Markit fell to 51.6 for September, below market expectations and a drop from August’s 52.2. Any figure [...]
Weak US car manufacturing may slow taper September 15, 2014 A slowdown in US manufacturing may tempt the Federal Reserve to delay the ending of the asset purchase programme when it meets today and tomorrow. Tapering is expected to end in October with the monthly purchases reduced from $25bn (£15.4bn) to zero. But yesterday’s data shows manufacturing declining by 0.4 per cent over August, the [...]
UK manufacturing PMI: Russia tensions push growth to its lowest in 14 months September 1, 2014 It turns out even the UK manufacturing sector, which over recent months has staged a glorious recovery, is vulnerable to the whims of Vladimir Putin. The Purchasing Manager's Index, published this morning, fell to 52.5 in August, its lowest reading since June 2013 and well below economists' expectations of 55. The index, published by Markit [...]
Domestic demand subdued as Chinese manufacturing growth slows September 1, 2014 It's an underwhelming morning for the Chinese economy. Official purchasing managers' index (PMI) figures for the manufacturing sector missed expectations by 0.1 points in August, while HSBC and Markit Economics's measure was revised down by a similar amount. Asian markets remained largely unaffected by the news, with Shanghai Composite, the Nikkei and the [...]
Manufacturers say pay deals are bucking national wage slump August 25, 2014 The UK’s industrial firms are reporting stronger wage growth than dismal official figures suggest, with a new survey indicating that wages in the sector are now accelerating at a faster pace than inflation. The latest figures from manufacturing industry body EEF show an average pay increase of 2.6 per cent between February and July, in [...]
Eurozone manufacturing dips as job creation “stagnates” August 21, 2014 Weak recovery in Europe's manufacturing industry continued in August, data published this morning showed. The Flash Eurozone Purchasing Managers' Index (PMI), which measures the strength of the region's manufacturing and services sectors, revealed growth slowed between July and August. The headline Composite Output Index fell to 52.8 (any figure above 50 shows growth) from 53.8 [...]
China imposes massive fine on Japanese car parts manufacturers for price fixing August 20, 2014 China yesterday announced that it had fined Japanese car parts makers a record 1.235bn yuan (£121m) for manipulating prices. The punishment is part of Beijing’s move to enforce an anti-trust law that has targeted major corporations and revived protectionism concerns. The fines, the largest so far meted out by the pricing regulator, the National Development [...]
UK’s industrial firms named as regional stars of world’s manufacturing sector August 18, 2014 UK factories are in a sweet spot, according to a report on global industrial conditions released this morning, with companies re-shoring to an increasingly competitive UK manufacturing sector. The Boston Consulting Group released research on the state of the world’s manufacturing sector this morning, calling the UK a “rising regional star”. The authors also say [...]