Oh yes, more doom and gloom
by Nicky
Well it is now official. The CBI’s Industrial Trends survey reports a downturn in the manufacturing industry.
Alarmingly in the past 3 months manufacturing businesses have estimated a 46% fall in new orders, which is the sharpest fall reported since 1992. It is also reported that businesses are looking to reduce their outlay on machinery and buildings over the next 12 months, which will be on the largest scale since the 1980s.
It would therefore appear that the credit crunch is finally biting in the manufacturing industry as well.
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