NW service sector improves
Nearly a quarter of North West service sector companies are working to full capacity, according to a new regional econmic study.
But, the Quarterly Economic Survey from the Chambers of Commerce North
West shows that just 18% of manufacturers are working to capacity
compared to 32% this time last year.
In the service sector, 24% of firms are working flat out compared to
33% in 2008.
Chamber chairman Mick Meyer, the boss of Chorley-based Team Leyland
International, said the study showed a "marked improvement" in
business confidence.
He said: "This is despite continued deeply negative indicators across
the board.
"Our survey seems to reflect the fact that confidence is starting to
return after all the doom and gloom earlier this year. It remains to
be seen, however, to what degree this is the start of a real
recovery."
UK orders and turnover in both services and manufacturing had markedly
improved, according to the survey results revealed on Thursday, but
overseas orders had deteriorated slightly for services and stabilised
for manufacturing.
Service providers and manufacturers report slightly improving cash
flow conditions and the percentage of businesses reducing staff
numbers is starting to stabilise.
The survey also showed that inflationary pressure continues to fall.
The main areas of concern are exchange rates for manufacturers and
competition for service providers.
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Weather for Preston
Wednesday 23 May 2012
Today
Cloudy
Temperature: 11 C to 15 C
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Wind direction: North west
Tomorrow
Sunny spells
Temperature: 14 C to 19 C
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