Yorkshire has best rate of manufacturing recovery
9:46am Thursday 8th May 2014 in Business news
MANUFACTURING in Yorkshire is showing stronger recovery than in any other region says new research.
Figures recorded for April by insolvency trade body R3 reveal only 20 per cent of manufacturing firms in Yorkshire have a higher than normal risk of insolvency, the smallest proportion of any region in England and Wales.
The North East also showed a strong performance, with a figure of 21 per cent, while the poorest performance in the sector was in London where 30 per cent were at risk.
Levels have remained fairly steady in Yorkshire over the last six months with 337 manufacturing firms identified as being at high risk in April out of 10,693 active companies.
William Ballmann, chairman of R3 in Yorkshire and partner at national law firm Gateley LLP, said: “The manufacturing sector is continuing to perform well, with the sector among the star performers in the latest GDP statistics.
“In Yorkshire, 2014 has seen production and new orders increasing and the feeling is that the region is performing slightly more strongly than the rest of the UK although the sector is still a long way from its peak before the recession.”
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