Happy new cheer to 2013
HOPES for an economic revival in Britain this year were boosted yesterday after the best manufacturing output fi gures in 15 months and surveys showing businesses playing down the threat of a triple- dip recession.
According to the Markit/ Chartered Institute of Purchasing & Supply activity index, the UK manufacturing sector expanded to its highest level since September 2011.
Markit said the main driver had been higher demand from UK producers, particularly in the consumer sector, offsetting a dip in export orders from the troubled eurozone.
Despite cautioning that the sector contracted over the final quarter as a whole and that global economic conditions remain a concern, Institute chief executive David Noble said the December performance was encouraging.
He said: “Manufacturers will hope that the solid upturn in volumes is the first sign of a more stable footing.”
Brian Hilliard, an economist at Societe General, called the figures a “belated Christmas present”, while Nick Beecroft senior analyst at Saxo Capital Markets described them as a “glimmer of hope”.
Further new year cheer came from an Institute of Directors opinion poll of more than 1,300 business leaders which revealed they were more optimistic about the UK economy than at the same period last year.
It found only 16 per cent thought the risk of a return to recession was high compared with 35 per cent at the start of 2012.
The small business sector is also starting the year in good spirits with the Lloyds TSB Commercial Business In Britain survey revealing that bosses were more confident about sales and profi ts than at any time since 2009.
David Oldfield, Lloyds TSB managing director, small and medium- sized enterprises and midmarkets banking, said businesses had “worked through tough economic headwinds”. SPORTS STARS MEDIA raised about £ 711,000 yesterday to fund a new global amateur football championship promoted by Real Madrid star Cristiano Ronaldo.
The sports personality media business said the as yet unnamed event will be launched in October allowing amateur footballers, including pub and Sunday league teams around the globe, to subscribe to a new social media network which will then arrange games and venues.
Boss Ruben Dias said the matches would lead to a fi nal play- off stage where teams could win cash prizes.
Ronaldo and his agents Polaris are shareholders in the project and he will be the tournament’s ambassador and may well be involved in the prize- giving.
Aim- listed SSM, up 11 per cent to 1 ¼ p, said it was in negotiations with sponsors and was exploring the possibility of television coverage.
Its new cartoon series Mourinho and the Special Ones featuring the Real Madrid coach launches next month.