British Chambers of Commerce survey points to manufacturing slowdown
2nd July 2019 16:19 - Industrial
British Chambers of Commerce survey points to manufacturing slowdown: A major survey of over 6,800 UK businesses has found UK manufacturing growth is at its lowest level in years.
The British Chambers of Commerce polled more than 6,800 firms between 20 May and 10 June 2019 and found the number of firms reporting improved domestic orders was at its lowest rate for seven years - following two previous quarterly falls.
It also found that although there had been a 'modest pick-up' in the services sector with an increase in the number of companies reporting higher sales and orders domestically, the activity in Q2 was not great enough to offset the significant drops experienced in Q1.
The research also found that number of service firms and manufacturers expecting prices to rise has fallen to its lowest level since 2016. The majority of those polled said they anticipated no change in their prices. And although a number of firms reported improved cash flow this quarter, it is still low when analysed against historic standards.
Manufacturing sector findings:
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