Half of UK man­u­fac­tur­ers wor­ried by China, some re­view plans: EEF

The Pak Banker - - 6BUSINESS -

LON­DON: Just un­der half of Bri­tish man­u­fac­tur­ers are wor­ried by the pos­si­bil­ity of a sharp slow­down in China's econ­omy and one in ten are re­view­ing their busi­ness plans, a sur­vey from an in­dus­try group showed on Sun­day. EEF said 47 per cent of man­u­fac­tur­ers were con­cerned by signs of a slow­down in China, which have rocked fi­nan­cial mar­kets over the past week. Big man­u­fac­tur­ing firms were most likely to be wor­ried, and also more likely to be look­ing at their busi­ness plans to take into ac­count dif­fer­ent sce­nar­ios, the sur­vey showed.

"Over­all, UK fac­to­ries send only a small pro­por­tion of their goods to Chi­nese cus­tomers, but a sharper slow­down would also see a halt to growth in ex­port sales through sup­ply chains in Europe," said Lee Ho­p­ley, EEF chief economist. "The more wide­spread im­pact, at least in the near term, is likely to be the knock to al­ready del­i­cate con­fi­dence lev­els.

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