Spotlight Is On British Industry

Chronicle (Levin), 12 January 1949, Page 5

Spotlight Is On British Industry

LONDON, Jan. 11. The need for Britain 's main industrial areas to maintain two views concurreptly, was mentioned in"a report by a firm of stock exeliange brokers, says the Finaneial Times. The first is a reasonably favouralile short view and the second a longer view "full of doubts and uneentainties. ' ' The report says there is no doubt that the era of fancy profits and money to burn shopping, has passed so that iiieffieient coinpanies with high costs nnd Vinnvv stncks nrA nnw mfip6no- wi-t-li

difficulty. So far, the report adds, industries have in the main merely returned towards normal trading eonditions in ^vhieh most well managed concerns can still earn satisfaetory profits. The feport says that in Glasgow the iron and steel industry is busier than it ever has been with increasing output but in many trades there is increasing trepidation as to the effects of the Government's nationalisation ventures. In Newcastle shipbuilding ofder l)Ooks are still full but priees are too high. Shipping orders are still comiug forward in Sunderland but small signs of unemployment are appearing. Spending js more eautious and would develop rapidly into. buying ouly necessities if 'trade showed signs of ;getting worse. In Sheffield all the many problems are subordiuated to the nationalisation of the steel industry. It is doubted if Sheffield firms ever felt more fyustrated but the industry continues to work at a high level of activity. Huddersfield industries are still experieneing shortages of labour, power and certain raw materials. The woollens and worsted sectious had a patchy year. The enginee-ring industry has been well maintaiued and the chemical industry continues to expand. A measure of corifidenee has 'returned .iu Manchester after a period of hesitancy and in Cardiff eonditions generally have improved during the last month or so. There has been a notieeable improvement in .employment.