Hull firms end 2015 on high with boost in UK orders

Published: Friday 8th January 2016 by The News Editor

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Local firms enjoyed a rebound in UK-based sales and orders in the final quarter of last year, figures from the Hull & Humber Chamber of Commerce show.

Sales in the UK climbed by eight points to 19 from October to December, following the big downward change witnessed in the third quarter.

But the balance is still well below the second quarter balance of 31 points.

Orders made nationwide increased by 10 points in the fourth quarter, yet this is still down on the balance of 19 in the second quarter.

It was not such good news for companies on the export sales and orders front. The overall balance dropped by a total of 14 points during the three-month period, with a rise in the number of firms reporting an increase in orders unable to offset the number reporting a decrease in sales.

Businesses appear to be less worried about possible changes to interest rates, with a drop of almost 50 per cent in the number of companies admitting concern about a hike in the base rate, while exchange rates, b usiness rates, inflation, competition and taxation are also less of a concern.

Cashflow bounced back into positive territory during the fourth quarter with a balance of eight points, up from -16 in the previous quarter.

Future investment in plants and machinery was down though, with more firms scaling back their plans to buy new equipment.

Copyright Press Association 2016

Published: Friday 8th January 2016 by The News Editor

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