Credit squeeze not hurting - yet.
Investors Chronicle - magazine and web content, November, 2007
UK industry shows no signs of being stymied by the credit crunch - yet Chris Dillow
Despite the sense of impending woe enveloping the equity markets, it appears as though the credit crunch isn't hurting British industry much yet. The CBI reported this week that manufacturers' order books are near a 12-year high. This followed on from statistics issued by the Bank of England showing that bank lending to UK residents rose 1 per cent last month, the same rate at which it grew in the 12 months to July, suggesting that banks aren't yet cutting their lending.
These figures point to the industry being able to ride out the current banking crisis, especially as it has other significant pillars of support. Sterling is at a 10-year low against the euro, which...
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