UK manufacturing grows despite a slight slowdown


David hurleys

A small growth is seen by the manufacturers of Britain in the month of February. There was a steady recovery of the sector is reducing the need for more stimulus from the central bank because the economy is slowly moving out of the danger zone.


Governor Mervyn King including some policymakers of Bank of England believes that this week played down the likelihood of another cash boost. The news that the sluggish housing market is gaining a touch of momentum bolstered views that injection of February\’s 50 billion pound cash may have been for the last time. The Markit/CIPS Manufacturing Purchasing Managers\’ Index in January ticked down to 51.2 from a slightly downwardly revised 52.0 which was the highest level since May. According to the analysts\’ forecasts the reading fell short for 51.8, but was still above the 50 marks which separate expansion from contraction. Manufacturers are now looking forward on course to help the economy to grow after a 0.8 percent drop in the sector\’s output led to a small overall contraction in the economy of UK. According to construction industry analyst Glenigan, there was also positive news from the smaller construction sector where the value of projects started between December and February rose by 17 percent as compared to a year ago. Glenigan said that he improved construction activity in February was even more decent given the snow and freezing weather early on in the month. British house builders have shown a more optimistic attitude recently after they reported big leaps in profit for 2011. Need some urgent cash in this economic slump then apply with 12 month loans no fees

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In recent years, many builders have grabbed up cheaper lands to push up their margins and have concentrated on selling more houses, rather than cheaper apartments, in areas where house prices have remained resilient. And house prices also rose more than expected in the month of February as per the data from mortgage lender Nationwide showed. House price surveys have also indicated that the sluggish housing market is gaining a touch of momentum. The Office for National Statistics data showed new orders for private housing grew 8.5 percent in the fourth quarter of 2011 as compared to the previous three months. However, the slowdown in manufacturing highlights a bumpy journey ahead. The Bank of Britain views that the recovery is likely to be slow and at risk of setbacks this year.

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