More lending to manufacturing as confidence returns
Barclays has announced it will make another £500 million available for lending to British manufacturing companies.
“We are targeting well-run, successful companies that are keen to invest for the future,” said Andy Martin, national director for manufacturing at Barclays. A survey by the bank found that nine out of ten manufacturing companies were optimistic about the prospects for their sector despite recent tough recent conditions.
The announcement comes as The Chartered Institute of Purchasing and Supply (CIPS) said its Purchasing Managers' Index rose to 54.1 in April, the highest level for 17 months – it was 51 in March.
