BusinessCompany NewsMore gloom for UK economy

More gloom for UK economy

Latest trade statistics show that the UK's deficit on trade in goods plunged to £3.6bn between October and November 2002, the worst figures this year.

Link: Top economists unsure of Brown’s forecasts

These poor figures, combined with a 0.2% fall in producer prices highlighted the seriousness of the situation facing the UK’s beleaguered manufacturing sector, according to the Centre for Economics and Business Research.

The CEBR said September trade figures suggested an improved performance for UK exports, but the latest figures suggest this will not materialise.

Rather, the consultancy said recent interest rate decisions by the Bank of England and the European Central Bank would see the UK’s trade deficit grow.

‘It looks like Monetary Policy Committee will have to face a difficult decision early next January as imbalances in the UK economy make themselves more evident by the day,’ the CEBR said.

Related Articles

BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

3m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

7m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

7m Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

10m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

10m Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

10m Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

10m Emma Smith, Managing Editor
Mazars strengthens audit team with partner appointment

Accounting Firms Mazars strengthens audit team with partner appointment

10m Emma Smith, Managing Editor