© Copyright Acquisition International 2025 - All Rights Reserved.

Article Image - Manufacturing Sector ‘Enduring a Real Struggle’ Says EY ITEM Club
Posted 10th September 2015

Manufacturing Sector ‘Enduring a Real Struggle’ Says EY ITEM Club

Research from multinational professional services firm EY suggests a slowdown in gorwoth in the manufacturing sector for the 3rd quarter of 2015.

Mouse Scroll AnimationScroll to keep reading

Let us help promote your business to a wider following.

Manufacturing Sector ‘Enduring a Real Struggle’ Says EY ITEM Club

Manufacturing Sector ‘Enduring a Real Struggle’ Says EY ITEM Club

Image

Research from multinational professional services firm EY suggests a slowdown in gorwoth in the manufacturing sector for the 3rd quarter of 2015.

The report also stated that the situation is unlikely to turn around in the near-term, with the factors underpinning both trends likely to remain influential as move into the autumn.

Martin Beck, senior economic advisor to the EY ITEM Club, comments: “While the CIPS manufacturing PMI edged down in August, the detail of the survey was slightly more encouraging with production accelerating to a five-month high and new business picking up. However, the bigger picture is one of a sector which is enduring a real struggle, with the PMI consistent with a likely fall in manufacturing output of 0.3% in Q3.

“Once again the survey showed a clear divergence between the relative strength of the domestic economy, particularly in terms of demand for consumer goods, and external weakness. The strength of the pound remains a key constraint, but it was notable that survey respondents also cited weak demand from China as a limiting factor in July. We would expect both factors to continue to supress demand for UK manufactured goods as we move through the autumn.

“The relative strength of the consumer sector was also shown in today’s Money & Credit figures. Mortgage approvals rose from 67,100 in June to 68,800 in July, with net mortgage lending reaching a seven-year high of £2.7bn. A stronger labour market and firmer trends in household incomes are the main drivers of the pickup in activity, giving home owners the means and the confidence to buy, while historically low levels of mortgage interest rates are also likely to be important. Unsecured lending also continued to accelerate in July.

“In our view, these releases are unlikely to make many waves within the MPC. August’s MPC minutes suggested that manufacturers’ struggles with the strong pound are firmly on the Committee’s radar, while there is no evidence of any inflationary pressures building within the sector. Although consumers’ appetite for credit continues to grow, we are a long way away from repeating the debt-fuelled growth seen prior to the financial crisis. But the MPC will be encouraged by the pickup in re-mortgaging, which suggests that households are starting to prepare for when interest rates do eventually start to rise.”

Categories: Finance


You Might Also Like
Read Full PostRead - Eye Icon
How Debt Impacts Climate Disasters
Finance
16/05/2023How Debt Impacts Climate Disasters

Most of the countries that are vulnerable to climate disasters are also struggling with debt, which is making it harder for them to respond effectively to climate-related emergencies.

Read Full PostRead - Eye Icon
Arctic Cat Acquires Motorfist
M&A
08/04/2015Arctic Cat Acquires Motorfist

Arctic Cat Acquires Motorfist

Read Full PostRead - Eye Icon
Should You Have a Mortgage During Retirement
News
30/10/2023Should You Have a Mortgage During Retirement

Retirement is something most of us look forward to with great excitement and expectation, offering us an opportunity to enjoy the fruits of our labor while taking up hobbies we truly care about. One key decision often raised when entering retirement is whether

Read Full PostRead - Eye Icon
HAYSTACKID Acquisition of FLEX Discovery Transaction
Innovation
29/02/2016HAYSTACKID Acquisition of FLEX Discovery Transaction

HAYSTACKID is an international end-to-end eDiscovery and forensics services and solutions provider.

Read Full PostRead - Eye Icon
Inside the Codebase: Five Steps of Software Development You Need to Know
News
01/09/2023Inside the Codebase: Five Steps of Software Development You Need to Know

Article written by Valentin Kuzmenko, Chief Commercial Officer/ VP of Sales at Andersen Modern businesses cannot function properly without pioneering software products. Companies willing to get efficient solutions partner with IT providers offering impeccable

Read Full PostRead - Eye Icon
Cross-Border M&A Is Hot, but There’s a Trap for Tax Planners
Finance
10/09/2015Cross-Border M&A Is Hot, but There’s a Trap for Tax Planners

Cross-border mergers and acquisitions are at their hottest pace since before the financial crisis. In fact, M&A volume was $1.10 trillion in 2014, up from $775.3 billion in 2013 and the highest since 2008.

Read Full PostRead - Eye Icon
Selescope Advises Capital Export’s Backing of Celec BIMBO
Legal
24/06/2015Selescope Advises Capital Export’s Backing of Celec BIMBO

Selescope Advises Capital Export's Backing of Celec BIMBO

Read Full PostRead - Eye Icon
PVD Training J.S.C – The Best Offshore Safety Training Facility
Innovation
08/06/2016PVD Training J.S.C – The Best Offshore Safety Training Facility

PVD Technical Training and Certification Joint Stock Company (PVD Training) is a world leading provider of training and certification, manpower solutions and marine technical services mainly to oil and gas clients.

Read Full PostRead - Eye Icon
How to Manage Your Budget During Inflationary Times
Finance
20/04/2022How to Manage Your Budget During Inflationary Times

At this point, there is no getting away from the word inflation. Everyone is talking about it, many complaining about it, but do you know how to take action to survive it? Depending on your age range, you may or may not have experienced life in inflationary ti



Our Trusted Brands

Acquisition International is a flagship brand of AI Global Media. AI Global Media is a B2B enterprise and are committed to creating engaging content allowing businesses to market their services to a larger global audience. We have a number of unique brands, each of which serves a specific industry or region. Each brand covers the latest news in its sector and publishes a digital magazine and newsletter which is read by a global audience.

Arrow