Corporate foreign exchange news

Falling manufacturing confidence may impact forex dealers

Wednesday, 10 August 2011 09:03:34 GMT

Posted by Zeb Bham
Forex dealers may be impacted by a decline in manufacturing confidence and a lack of belief that growth is likely.
According to the latest figures from The Confederation of British Industry (CBI), 28 per cent of small and medium-sized enterprises (SMEs) admitted they are "less optimistic" about their outlook now than in the previous quarter.
Meanwhile, 18 per cent stated they feel they are in a better position than three months ago.
"Orders and production have been strong for the UK's smaller manufacturers this quarter, but growth is expected to stagnate in the next and sentiment has fallen for the first time in two years," said chair of the CBI's SME Council Lucy Armstrong.
She added that organisations are looking to rework their plans due to the increased levels of economic uncertainty around the globe.
The CBI states it works to assist UK businesses to achieve success for the good of the nation as a while.
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