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August 23rd 2007

Promising Survey Strengthens Pound

Although the British pound suffered earlier in the week from a large Bank of England loan, the currency has been lifted due to a survey taken by UK manufacturers. The results of the survey, which inquired about their order books, showed that manufacturers were more successful this month than they’ve been in over a decade. Analysts did not expect such a promising report, as it proved that the UK is handling global credit problems better than most countries. According to Forbes:

The Confederation of British Industry revealed that a balance of +9 pct of firms polled reported that their order books were above normal in August – the highest level for more than 12 years.

Read more: Pound boosted by buoyant UK manufacturing survey

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Posted by Amy Cottrell | in British Pound | No Comments »

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