Thursday, October 01, 2009
Manufacturing slips but credit conditions improve
Posted by David Smith at 10:00 AM
Category: Thoughts and responses

Britain's manufacturing sector was never gong to roar back into life so news that the purchasing managers' index for manufacturing slipped from 49.7 to 49.5 should not be too concerning. Exports at least appear to be benefiting from the weak pound.

There was better news from the Bank of England's credit conditions survey, which showed that availability of credit to companies is improving, that they are expected to do so further over the next three months for both companies and households and that default rates are lower than expected. More details on the survey here.