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With recent figures showing that the manufacturing sector is the biggest victim of the current economic turmoil in Europe, the impact of the global slowdown is also becoming increasingly evident in emerging economies – including the manufacturing powerhouse of the BRIC economies, comes the warning from accountants and business advisers BDO Stoy Hayward. ...
The number of UK manufacturing failures was predicted to increase by 37% by the end of 2008 in comparison to 2007, according to research from accountants and business advisors, BDO Stoy Hayward LLP. The firm’s Manufacturing Industry Watch report forecasted that as economic conditions worsen, the number of manufacturing failures will rise to 1,841 by the end of 2008 - a considerable increase from the 1,341 failures seen during 2007....