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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: benwood who wrote (45243)	1/26/2006 12:28:23 AM
From: mishedlo	Read Replies (1) of 116555

UK Manufacturing Jobs Go Updated: 12:29, Tuesday January 24, 2006 Around 25,000 jobs were lost in the manufacturing industry over the past three months, says the CBI's latest survey. Manufacturers have been struggling to pass on rising costs to customers as customers themselves tighten their economic belts. Firms hampered by sharp rises in the cost of gas and oil cut staff numbers in a bid to relieve squeezed profit margins, employers body the CBI said. The total number of jobs lost in the manufacturing sector over the past year was 106,000, the CBI's quarterly industrial trends study revealed. "Conditions for manufacturers are getting increasingly tough as costs continue their seemingly inexorable rise," said the CBI's Ian McCafferty. "But weak demand keeps prices down, squeezing already thin profitmargins even further. "The sustained high level of oil and sharply increased gas prices have driven up energy and raw material costs. "Manufacturers are continuing to respond by cutting employment to curb the wage bill and boosting investment in efficiency-improving measures." sky.com

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