You are here: Home - Saving & Banking - News -

Manufacturing growth dips after ‘phenomenal February’

0
Written by:
03/04/2007

The rate of growth in UK manufacturing activity dipped in March but is still healthy and shows a good level of saving and investment, according to a report from the Chartered Institute of Purchasing and Supply.

Its latest Purchasing Managers’ Index fell to 54.4 last month from February’s two-and-a-half years’ high of 55.5.

“The signs for the UK economy and its manufacturing sector in particular look very healthy,” said economist John Cornell. “These figures do not convince me that the Bank of England’s Monetary Policy Committee, which sets the interest rate, will change the Bank Rate this week from its current level of 5.25%.

“All the signs show me that the economy is in an expanding mode and that interest rates do not need to rise further, given that inflationary pressures seem to be under control at the moment.”

He continued: “The UK’s economy has been in pretty good shape overall since Labour were returned to power in 1997. Gordon Brown’s masterstroke as Chancellor was to hand over the setting of the Bank Rate to the Bank of England and this has worked very well for the country over the years.”

Geoffrey Dicks, UK economist at the Royal Bank of Scotland, concurred with Cornell’s assessment. “UK manufacturing remains comfortable, even if the heady gains of February were not repeated in March.”

 

Related Posts

Tagged:

Tag Box

Debt

Pension

Spending

Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

The essential Your Money guide to the April 2018 tax changes

As we head into the 2018/19 tax year, a number of key changes take place to existing policies while some new i...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

YourMoney.com Awards 2018

Now in their 21st year, our awards recognise the companies offering the best products and services to consumers

Money Tips of the Week

Read previous post:
Potter magic wanes at Bloomsbury as low profits spell decline

Bloomsbury, the publishing company that handles the Harry Potter phenomenon, has announced a 74% drop in annual profits in 2006,...

Close