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Manufacturers report an improvement in credit

2 June 2011
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Manufacturers report an improvement in creditThe finances of UK manufacturers are improving, as the credit becomes more available to businesses in the field, a report has claimed.

Companies implementing continuous improvement policies may be interested to learn that EEF, the manufacturers' organisation found fewer companies are reporting having problems accessing the funds they require.

However, the Credit Conditions survey of nearly 500 enterprises suggested costs in this area are rising, with a balance of plus 22 per cent of firms reporting they had seen the overall amount spent on credit rise during the previous two months.

EEF chief economist Lee Hopley remarked: "Ensuring companies have access to the finance needed to invest and grow is critical for the recovery."

Recent figures from Markit and the CIPS showed the manufacturing industry continued to expand in May this year, albeit at a slower pace than in previous months.

Commenting on the data, Ms Hopley stated it indicated the sector "is coming off the boil after nearly two years of solid growth".ADNFCR-3058-ID-800565264-ADNFCR
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