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Post by Deleted on Jul 6, 2023 17:34:45 GMT
Average input cost is down. The pound is cheap so our exports, too, must be cheap. But foreign demand is also down. Anyone has any ideas why and how? news.sky.com/story/manufacturing-downturn-deepens-amid-weak-demand-for-uk-goods-12894227Manufacturing downturn deepens amid weak demand for UK goods
Output, new orders and jobs in the sector fell to a four-month low in May, according to closely watched economic data. Britain's manufacturing downturn deepened last month as declines in output, new orders and employment accelerated, latest economic data suggests. S&P Global Market Intelligence director Rob Dobson said a decrease in demand from overseas had come "amid reports of lost orders from the US and mainland Europe";... "exacerbated by some EU clients switching to more local sourcing to avoid post-Brexit trade complications". However, Mr Dobson added: "Although near-term conditions remain challenging overall, manufacturers are still finding reasons for optimism including brighter news on the price and supply fronts.
" Average input costs fell for the first time in three-and-a-half years, allowing some firms to maintain efforts to repair and protect margins damaged by a long and often severe period of cost inflation.
Customers 'tired of Brexit checks'
Dr John Glen, chief economist at the Chartered Institute of Procurement & Supply, said "maker misery" for firms continued and that many remained worried about the UK's economic outlook. He said the decline in export orders also "demonstrated that customers from overseas [had become] tired of additional administrative Brexit checks. "The fear around near shoring goods became a reality and the fall in overseas interest was the fastest since January." Dr Glen added: "More interest rate rises increasing business costs and the pressure from stubborn inflation will continue to keep business owners awake at night. "The threat of recession narrowly missed at the end of last year hasn't passed entirely so businesses will be tightening their belts for lean times to come which could include more job shedding and reduced operations," he said. The survey showed a reading of 47.1 in May, down from 47.8 in April. Any score below 50 indicates the sector is shrinking. |
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Post by Pacifico on Jul 6, 2023 21:27:55 GMT
The survey showed a reading of 47.1 in May, down from 47.8 in April. Any score below 50 indicates the sector is shrinking. Yes its not good - but it could be worse. In fact it could be as bad as the Eurozone where the PMI has collapsed to 43.4  |
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Post by Deleted on Jul 7, 2023 17:47:27 GMT
The survey showed a reading of 47.1 in May, down from 47.8 in April. Any score below 50 indicates the sector is shrinking. Yes its not good - but it could be worse. In fact it could be as bad as the Eurozone where the PMI has collapsed to 43.4 Or better. A year ago it was 53.4. |
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Post by Pacifico on Jul 8, 2023 6:51:55 GMT
Yes its not good - but it could be worse. In fact it could be as bad as the Eurozone where the PMI has collapsed to 43.4 Or better. A year ago it was 53.4. Yes - but if you are complain about lower export orders to the EU then the dire state of the EU economy may have something to do with that. |
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Post by Deleted on Jul 8, 2023 14:23:35 GMT
Or better. A year ago it was 53.4. Yes - but if you are complain about lower export orders to the EU then the dire state of the EU economy may have something to do with that. This is what S&P Global Market Intelligence director Rob Dobson says: "A decrease in demand from overseas had come "amid reports of lost orders from the US and mainland Europe";... "exacerbated by some EU clients switching to more local sourcing to avoid post-Brexit trade complications". It doesn't say, suggest even, that the decrease in overseas demand is due to a corresponding contraction in the EU economy. |
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Post by Vinny on Jul 8, 2023 14:26:36 GMT
Another hilarious remoaning thread which ignores the value of UK exports to the EU is at the highest its ever been! LOL
Cry us a river bad losers. We're not going back.
£340 billion to the EU last year compared to £223.3 billion before the referendum.
Pretty soon we'll be selling £400 billion a year to them.
Our exports to it are well above inflation.
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Post by Pacifico on Jul 8, 2023 17:08:00 GMT
Yes - but if you are complain about lower export orders to the EU then the dire state of the EU economy may have something to do with that. This is what S&P Global Market Intelligence director Rob Dobson says: "A decrease in demand from overseas had come "amid reports of lost orders from the US and mainland Europe";... "exacerbated by some EU clients switching to more local sourcing to avoid post-Brexit trade complications". It doesn't say, suggest even, that the decrease in overseas demand is due to a corresponding contraction in the EU economy.
Does it need someone to say that a recession is a contraction in the economy? - surely everyone knows that. |
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Post by Deleted on Jul 8, 2023 18:11:38 GMT
This is what S&P Global Market Intelligence director Rob Dobson says: "A decrease in demand from overseas had come "amid reports of lost orders from the US and mainland Europe";... "exacerbated by some EU clients switching to more local sourcing to avoid post-Brexit trade complications". It doesn't say, suggest even, that the decrease in overseas demand is due to a corresponding contraction in the EU economy.
Does it need someone to say that a recession is a contraction in the economy? - surely everyone knows that. Fine. Here: "This is what S&P Global Market Intelligence director Rob Dobson says: "A decrease in demand from overseas had come "amid reports of lost orders from the US and mainland Europe";... "exacerbated by some EU clients switching to more local sourcing to avoid post-Brexit trade complications". It doesn't say, suggest even, that the decrease in overseas demand is due to a corresponding contraction recession in the EU economy." |
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Post by Pacifico on Jul 8, 2023 21:49:27 GMT
So during a recession in the EU, you are asking us to believe that UK companies exporting to the EU are the only ones who will not see a reduction in demand due to the contraction in the economy. OK - if thats what you wish to believe..  |
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Post by Deleted on Jul 9, 2023 5:44:20 GMT
The point: "exacerbated by some EU clients switching to more local sourcing to avoid post-Brexit trade complications".
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Post by Pacifico on Jul 9, 2023 6:57:32 GMT
The point: "exacerbated by some EU clients switching to more local sourcing to avoid post-Brexit trade complications". Which is precisely what British businesses are doing - moving supply chains closer to home. |
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Post by Deleted on Jul 9, 2023 7:17:00 GMT
The point: "exacerbated by some EU clients switching to more local sourcing to avoid post-Brexit trade complications". Which is precisely what British businesses are doing - moving supply chains closer to home. Irrelevant. The issue is the apparent weak demand for UK goods. |
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Post by Baron von Lotsov on Jul 10, 2023 11:00:41 GMT
Average input cost is down. The pound is cheap so our exports, too, must be cheap. But foreign demand is also down. Anyone has any ideas why and how? news.sky.com/story/manufacturing-downturn-deepens-amid-weak-demand-for-uk-goods-12894227Manufacturing downturn deepens amid weak demand for UK goods
Output, new orders and jobs in the sector fell to a four-month low in May, according to closely watched economic data. Britain's manufacturing downturn deepened last month as declines in output, new orders and employment accelerated, latest economic data suggests. S&P Global Market Intelligence director Rob Dobson said a decrease in demand from overseas had come "amid reports of lost orders from the US and mainland Europe";... "exacerbated by some EU clients switching to more local sourcing to avoid post-Brexit trade complications". However, Mr Dobson added: "Although near-term conditions remain challenging overall, manufacturers are still finding reasons for optimism including brighter news on the price and supply fronts.
" Average input costs fell for the first time in three-and-a-half years, allowing some firms to maintain efforts to repair and protect margins damaged by a long and often severe period of cost inflation.
Customers 'tired of Brexit checks'
Dr John Glen, chief economist at the Chartered Institute of Procurement & Supply, said "maker misery" for firms continued and that many remained worried about the UK's economic outlook. He said the decline in export orders also "demonstrated that customers from overseas [had become] tired of additional administrative Brexit checks. "The fear around near shoring goods became a reality and the fall in overseas interest was the fastest since January." Dr Glen added: "More interest rate rises increasing business costs and the pressure from stubborn inflation will continue to keep business owners awake at night. "The threat of recession narrowly missed at the end of last year hasn't passed entirely so businesses will be tightening their belts for lean times to come which could include more job shedding and reduced operations," he said. The survey showed a reading of 47.1 in May, down from 47.8 in April. Any score below 50 indicates the sector is shrinking. I was trying to source a gas sensor which is a small device which uses a semiconductor laser and then analysis the line spectrum given off and scattering. This is the standard way of measuring CO2 concentrations. There's a few different methods in fact, the cheapest is done on a chip, but these laser scattering devices give much better accuracy. Prices start at about 7 pounds and the bulk of units cost between abut 10 to 15. There are hundreds of different models on the world market. After much research I came to the conclusion they all had similar specs and those specs were not much to do wit the manufacturer, but simply how accurately this method is to measure CO2. I recall it would give you a figure +/- 10%. Other than that the variations were more to do with if the case were plastic or metal and other minor differences. I did a entire scan of the market and looked at ever model. There was one odd man out though. They wanted about 250 pounds for it. Have a guess why. Yes it was made in Britain. Now Dr Glen is talking out of his arse. It is inconceivable that any excuse like paperwork, currency rates or even strikes could explain some 15000% difference in cost. Was it the specs I wondered. As I recall the details of the product and detailed technical specs were missing. By the way, I'm not telling you this as if it were some amazing specimen of strangeness. I'm just giving you a typical example of what I see far too often. |
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Post by oracle75 on Jul 10, 2023 11:33:10 GMT
The point: "exacerbated by some EU clients switching to more local sourcing to avoid post-Brexit trade complications". Which is precisely what British businesses are doing - moving supply chains closer to home. THE FAR EAST? |
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Post by Baron von Lotsov on Jul 10, 2023 11:41:55 GMT
Which is precisely what British businesses are doing - moving supply chains closer to home. THE FAR EAST? One day I reckon they will move to the legendary Outer Mongolia.
You see China is moving north-west ish, up into Xinjiang and beyond. China and Russia have come to an arrangement through BRICs to develop the entire region that spans from China to Russia. They see the future as a mega conurbation.
It's a shame we can't teleport into the 22nd century and have a look.
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