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Manufacturing on the up but still chance of UK recession
09/01/2012
The financial forecast for 2012 is not looking bright. Where we see a boost in the export manufacturing market we see a decline in the UK demand, recession is looking likely again. The Right Equity Release is here to help you to increase your retirement income especially in such bleak times, use our equity release calculator and see if you qualify.
The latest manufacturing figures show shrinkage not as low as expected, but not enough for it to recover potentially leading the UK into yet another recession. It is reported that this is the harshest quarter for the manufacturing section for nearly three years, consequently adding fears for the UK economy for 2012.
A recent survey conducted by Markit/CIPS purchasing managers’ index (PMI) were surprised as it was expected to fall to 47.3 in December but in fact rose to 49.6. Even though this could be seen as a positive indicator the figure indicates a contraction if lower than 50.
Manufacturers have seen a slight rise in new export orders but this has not been enough to stop it from being the worst final three months of any quarter since the second quarter of 2009.
‘While today’s headline figure is encouraging, it still suggests that manufacturing will drag GDP growth lower and that recession will remain difficult to avoid’ said James Knightley, an economist at the ING Bank.
Looks like 2012 will be yet another year of keeping a close eye on your finances. An Equity Release Scheme is there to help at times just like this, when you think there is no other option, remember The Right Equity Release and one of our advisors will be happy to give you free advice into which type of equity release product would be right for you or your family’s needs. Use our equity release calculator to estimate how much equity could be released from your property.
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