There seems to be no respite in the recent gloom and doom around the place at the moment. The markets have lost their excitement following the "rescue" of the Spanish banks and focused on the huge levels of debt that dog the governments in the Eurozone. Now the manufacturing output statistics for the UK has shown a contraction of 0.7% in April after a rise in March. Sharp falls were seen in the pharmaceutical and food sectors, while aerospace and electronics both saw a rise in output. The levels of output are just 0.3% higher than ago.
This will put further pressure on the Bank of England to increase QE or even reduce interest rates and the Government will be hearing more calls for a bold growth strategy.
Manufacturing has been a bright spot in the UK economy with the car industry doing particularly well. It will be a tragedy if the efforts of rebalancing the economy are undone by the Eurozone crisis.
If you are a manufacturing company which is struggling with company debts to HMRC, or your factor is making life difficult then please get in touch. We have solutions to alleviate issues with both your unsecured and secured debt.
call us on 01289 309431