Corporate foreign exchange news
Forex market news: UK factory output to grow in 2010
Monday, 07 December 2009 09:18:46 GMT

Published by Zeb BhamThe UK manufacturing industry will return to growth in 2010 due to a recovery in exports, the Engineering Employers Federation (EEF) has forecast.A survey carried out by the group and BDO Stoy Hayward showed the first positive measure of export orders witnessed since the third quarter of 2008.The poll follows a statement from the British Chambers of Commerce declaring that the manufacturing sector is on the road to recovery and precedes monthly manufacturing production figures due out on Tuesday (December 8th).Speaking to Bloomberg, Lee Hopley, chief economist at the EEF, commented: "We're clearly through the worst effects of the global economic downturn. The recovery is in sight, but it's not expected to be quick or easy. Companies are quite cautious."For companies that make a large number of international business payments, seeking out the best deal on foreign exchange rates could be particularly important in ensuring profitability as the recovery gathers pace.For more information on international payments, visit our Smart FX site



