The balance of minus 29 per cent compares with minus 26 per cent in January. Firms expect more jobs to go over the next four months, but at a slower rate. Thirty per cent said employment will fall while 12 per cent said it would rise. The balance of minus 18 per cent compares with minus 25 per cent in January. Prices fell significantly over the past four months, with domestic prices declining at the fastest rate on record.
Firms expect the decline to continue at a slower rate over the next four months.
Plans to investment in plant and machinery deteriorated further with spending set to fall over the next year. Efficiency improvements are the main reason to invest while uncertainty about demand is the main restriction. They are in recession and a glance across the sector suggests that the smaller you are the harder you're hit. With sterling strengthening against the euro, export prospects seem poor and employment prospects are weak with further job cuts on the way. We needed an interest rate cut last week and a reduction next month would not jeopardise the inflation target.