Osborne's dream of British 'makers' kept at bay by strong pound
Manufacturing lagging the broader economy, barely growing in the past four years
London
GEORGE Osborne's plan to steer Britain's recovery away from domestic consumer spending is being thwarted at every turn.
First hampered by recession in the euro area, the UK's biggest market, manufacturers are now up against the pound at a seven- year-high, while Greece's debt crisis is further clouding the outlook for the currency region.
The external recipe means the factory-powered pickup the chancellor of the exchequer described as the "march of the makers" in 2011 has yet to materialise. Manufacturing is lagging the br…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
China's central bank signals caution over credit boost as demand weakens
Former China central bank’s deputy governor accused of taking bribes
Malaysia’s RHB Bank doubles green loans target to RM50 billion
Human cases of bird flu 'an enormous concern', says WHO
Copenhagen mayor to take lessons from Notre-Dame after Old Stock Exchange blaze
Reuters’ Mohammed Salem wins 2024 World Press Photo of the Year award