The UK's manufacturing sector saw widespread improvements in Q4, 2003, according to the British Chambers of Commerce (BCC). In its latest quarterly economic survey, the BCC said the service sector remains buoyant too. Overall, the BCC said UK sales and exports improved in both sectors, while investment budgets grew and cashflows strengthened, but employment expectations weakened slightly and manufacturing confidence stuttered. The BCC said the manufacturing sector's net balances improved in the third quarter from +0pc to +17pc for home sales and from -2pc to +8pc for home orders.
And exports surged from negative territory in the third quarter to historical highs in the fourth. The net balances for deliveries rose from -2pc to +13pc, while orders picked up from -2pc to +16pc. The manufacturing employment balance recovered strongly too, from -5pc in the third quarter to +5pc in the fourth, the highest level since Q4 2002, but employment expectations weakened from +3pc to -1pc. And turnover confidence fell slightly in the fourth quarter from +50pc to +48pc. Profitability confidence also slipped from +37pc to +36pc. //www.fxcentre.com