UK manufacturing contracts as firms grapple with "no-deal" stockpiles - ING
01.07.2019, 12:20

UK manufacturing contracts as firms grapple with "no-deal" stockpiles - ING

James Smith, a developed market economist at ING, notes that the UK manufacturing PMI came in at 48.0, its lowest level for over six years, suggesting that the sector will post negative growth through the second quarter. According to him, much of this has to do with the stockpiling frenzy of the first quarter, which saw firms scramble to boost inventory to try and insulate themselves against the possible supply chain disruptions of a "no deal" Brexit.

  • "Much of this stock will have been imported from the EU, but given the global nature of modern supply chains, this stock-building process saw UK manufacturing rise in tandem. The decision to extend Article 50 has meant firms are grappling with how best to deal with all this extra stock – and first and foremost this has resulted in a fall in new orders and therefore production.
  • We’d expect this trend to continue as we head into the summer months, and this is the main reason why we expect overall second-quarter growth to come in more or less flat. But as we approach the new October Brexit deadline, firms face a tricky decision.
  • In some cases, firms may look to maintain the level of inventory they are holding, although this is costly (both in terms of storage and the opportunity cost). Companies may also find it harder to source the necessary warehousing space, with much of it reportedly already booked up ahead of Christmas. This means many firms will be forced to destock now and rebuild again as we move into the autumn – according to IHS/Markit, companies have begun reducing holdings of inputs/components."

© 2000-2024. Sva prava zaštićena.

Sajt je vlasništvo kompanije Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

Svi podaci koji se nalaze na sajtu ne predstavljaju osnovu za donošenje investicionih odluka, već su informativnog karaktera.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

Politika sprečavanja pranja novca

Upozorenje o rizicima

Izvršenje trgovinskih operacija sa finansijskim instrumentima upotrebom marginalne trgovine pruža velike mogućnosti i omogućava investitorima ostvarivanje visokih prihoda. Međutim, takav vid trgovine povezan je sa potencijalno visokim nivoom rizika od gubitka sredstava. Проведение торговых операций на финанcовых рынках c маржинальными финанcовыми инcтрументами открывает широкие возможноcти, и позволяет инвеcторам, готовым пойти на риcк, получать выcокую прибыль, но при этом неcет в cебе потенциально выcокий уровень риcка получения убытков. Iz tog razloga je pre započinjanja trgovine potrebno odlučiti o izboru odgovarajuće investicione strategije, uzimajući u obzir raspoložive resurse.

Politika poverenja

Upotreba informacija: U slučaju potpunog ili delimičnog preuzimanja i daljeg korišćenja materijala koji se nalazi na sajtu, potrebno je navesti link odgovarajuće stranice na sajtu kompanije TeleTrade-a kao izvora informacija. Upotreba materijala na internetu mora biti praćena hiper linkom do web stranice teletrade.org. Automatski uvoz materijala i informacija sa stranice je zabranjen.

Ako imate bilo kakvih pitanja, obratite nam se pr@teletrade.global.

Банковни
транcфери
Feedback
Lajv čet E-mail
Povratak na vrh
Izaberi lokaciju / jezik