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Access to capital ''restricting manufacturing growth''

11 October 2010
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Access to capital ''restricting manufacturing growth''The ability to access finance easily is restricting the expansion of the UK's manufacturing industry, it has been claimed.

According to a spokesman for the Manufacturing Institute, the leading insurance market, public spending cutbacks are affecting the availability of capital and the willingness of businesses to borrow.

Ed Moss added the current climate of economic uncertainty is affecting consumer confidence and lack of finance for firms is "dragging things down".

"The opportunities that are there can't really be grabbed, because businesses don't want to overstretch themselves - that's it, really, in a nutshell," he declared, adding that restocking activity in the UK is coming to an end, pushing down output.

Manufacturing management professionals are advised his remarks come in the wake of data from the Office for National Statistics showing output in the manufacturing industry increased year-on-year by six per cent during August.

However, the quarterly figures for the three months to August showed a slowdown in expansion from 2.7 per cent to 0.7 per cent.ADNFCR-3058-ID-800108487-ADNFCR
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