Manufacturing administrations fall
Deloitte research shows administrations in manufacturing dropped 18% in the first quarter of 2011 compared to the same period last year
MANUFACTURING ADMINISTRATIONS have taken a substantial drop according to statistics compiled by Deloitte.
For the first quarter of the year the sector saw administrations decline 18% to 86, compared to 105 for the same period a year ago.
Ross James, (pictured) manufacturing partner Deloitte, said: “This trend is encouraging but the Q1 2011 figures lend a note of caution to this optimism. The number of administrations in Q1 2011 is higher than the previous three quarters in 2010 possibly indicating that demand is softening.
“This, combined with recent data on purchase orders is less encouraging, and we cannot preclude a further rebound in these figures if the recovery in demand is not sustained,” said James.
Deloitte compiled the information from data published in the London Gazette.