Home / Knowledge / News / Difficult time for export & services sector
Difficult time for export & services sector
19
Jan '08
The Q4 2007 Quarterly Economic Survey of 4,600 members of the British Chambers of Commerce indicates difficult times lie ahead for the Government and Monetary Policy Committee if they are to steer a safe course for the UK economy in 2008.

The Q4 results are negative with most critical balances for both the manufacturing and services falling.

Of particular concern for the service sector are export balances which are disturbingly weak while profitability confidence has plummeted by 17 points.

The manufacturing sector also saw export performance worsen markedly in Q4, with plans to increase investment in plant and machinery falling by 12 points.

Across both the services and manufacturing sectors the pressure on pricing is worrying. The balance of manufacturing firms reporting pressure to raise prices rose 9 points in Q4 to +41%, an all time high.

In services, the balance of firms expecting to increase prices rose 12 points, to +40%, also an all time high.

David Kern, economic adviser to the British Chambers of Commerce, said: “The latest results show the tough position that the MPC is in as it contemplates its next move.

“Overall, the Survey results are negative. The critical balances for both manufacturing and services have fallen, with exports being of particular concern.

The pressure that many firms are feeling on pricing show inflationary pressures that may be hard to keep a lid on.

“Talk of recession however is unjustified and must be strongly resisted.

If the right policies are adopted the damage associated with an economic slowdown can be limited.

Inflationary concerns cannot be shrugged off but a small interest rate cut early in 2008 will alleviate the credit squeeze, prevent a major confidence loss, and reduce the need for dangerous emergency measures later in the year.”

British Chambers of Commerce

Must ReadView All

Textiles | On 28th Feb 2017

China's textile & apparel exports up 10.2% in Jan 2017

Exports of textiles and garments from China resumed growth in the...

Apparel/Garments | On 28th Feb 2017

Delta Galil's Q4 operating profit jumps 80%

In the three months to December 31, 2016, operating profit at apparel ...

View of YiwuTex 2016; Courtesy: YiwuTex

Textiles | On 28th Feb 2017

Smart knitting system to grace 18th YiwuTex 2017

The thematic functional knitting machinery zone at the 18th YiwuTex...

Interviews View All

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search