FOREX TradingCharts.com

Financial News: UK Economic Conditions Deteriorate On Weak Manufacturing A

UK Economic Conditions Deteriorate On Weak Manufacturing Activity: BCC

10/03/2019 - 23:39:00 (RTTNews)

(RTTNews) - The UK economic conditions weakened in the third quarter reflecting a marked deterioration in manufacturing sector activity, survey results from the British Chambers of Commerce showed Friday.

According to Quarterly?Economic?Survey, manufacturing firms reporting increased domestic sales fell to zero. The domestic order balance entered negative territory for the first time in seven years, to -7 in the third quarter. Both are at their weakest since the fourth quarter of 2011.

The balance of manufacturing firms reporting increased export sales dropped to +3, the lowest level since the fourth quarter of 2015 and the balance for export orders went negative and came in at its weakest level since the third quarter of 2009.

The dominant services sector reported a decrease in the balance of firms reporting increased domestic sales and orders, and export orders, the survey showed. The domestic sales balance of service providers slid to 15 and the balance for domestic orders dropped marginally to 9 in the third quarter.

Manufacturers' cashflow position - a key indicator of the financial health of a business, deteriorated. In the services sector, cashflow held steady at a low level.

"A stuttering services sector coupled with a worrying downturn in manufacturing activity indicates that any bounce back in UK GDP growth from the contraction in the second quarter is likely to be underwhelming at best," Suren?Thiru, Head of Economics at the BCC, said.

"This is a reality check, not scaremongering or politicking. These are some of the worst figures we've seen in a decade - and jobs, businesses, and the future success of our communities are on the line," Adam Marshall, Director General of the BCC, said.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2019 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Sweden September Jobless Rate Climbs (01 hr(s), 53 min(s), 07 sec(s) ago)
(RTTNews) - Sweden's jobless rate rose marginally in September amid the first increase in yout ...Full Story»

China Car Sales Drop For 15 Months (02 hr(s), 48 min(s), 07 sec(s) ago)
(RTTNews) - China's car sales fell for the fifteenth consecutive month in September, figures f ...Full Story»

Slovakia Inflation Rises In September (03 hr(s), 38 min(s), 07 sec(s) ago)
(RTTNews) - Slovakia's consumer price inflation rose marginally in September after slowing in ...Full Story»

India Inflation Rises In September (03 hr(s), 59 min(s), 07 sec(s) ago)
(RTTNews) - India's consumer price inflation increased moderately in September, data from the ...Full Story»

German Economy Unlikely To See Strong Downturn (04 hr(s), 19 min(s), 07 sec(s) ago)
(RTTNews) - The German economy is unlikely to log a strong downturn, the economy ministry reported ...Full Story»

Hungary Industrial Production Growth Slows In August (04 hr(s), 40 min(s), 07 sec(s) ago)
(RTTNews) - Hungary's industrial production grew at a slower rate in August, final data from t ...Full Story»

Turkey Industrial Production Falls In August (04 hr(s), 50 min(s), 07 sec(s) ago)
(RTTNews) - Turkey industrial production declined in August, data from the Turkish Statistical Ins ...Full Story»

Finland Inflation Slows In September (04 hr(s), 56 min(s), 07 sec(s) ago)
(RTTNews) - Finland consume price inflation slowed in September after rising in the previous month ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Sweden September Jobless Rate Climbs

10/14/2019 - 10:33 AM (RTTNews)
(RTTNews) - Sweden's jobless rate rose marginally in September amid the first increase in yout ...Full Story>>

China Car Sales Drop For 15 Months

10/14/2019 - 09:38 AM (RTTNews)
(RTTNews) - China's car sales fell for the fifteenth consecutive month in September, figures f ...Full Story>>

Slovakia Inflation Rises In September

10/14/2019 - 08:48 AM (RTTNews)
(RTTNews) - Slovakia's consumer price inflation rose marginally in September after slowing in ...Full Story>>

India Inflation Rises In September

10/14/2019 - 08:27 AM (RTTNews)
(RTTNews) - India's consumer price inflation increased moderately in September, data from the ...Full Story>>

German Economy Unlikely To See Strong Downturn

10/14/2019 - 08:07 AM (RTTNews)
(RTTNews) - The German economy is unlikely to log a strong downturn, the economy ministry reported ...Full Story>>
Copyright © 2019. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.