Credit Insurance: UK Manufacturing
UK manufacturing seems to be heading in the right direction as according to a new survey its activity hit a two and a half year high last month. The Markit/CIPS purchasing managers' index (PMI) for this sector increased to 56.1 in December from 53.6 the month before. Anything over 50 indicates growth. The survey found that the weaker pound has helped boost orders from overseas as we suggested in a previous blog.
The key findings from the survey were:
- UK Manufacturing PMI posts 56.1 in December
- Improved domestic and overseas demand boosts output and new order growth
- Price pressures stay elevated but ease further from recent highs
The full News Release from The Markit/CIPS purchasing managers' index can be found here.
Credit Insurance
The UK manufacturing sector is seen as fairly sturdy by credit insurers but you can never be too careful when dealing with export markets. It's much more difficult to understand the risk of your customers that are based overseas as you may not have the insight to their financial status. You can benefit from the underwriter's extensive knowledge and information on business worldwide that is not often in the public domain, and have the added protection of a claim being paid in the event of non-payment.
The CMR difference
At CMR, we pride ourselves on our friendly approach and knowledge of our managed credit insurance policy. The fact that we manage the credit insurance policy for you gives you the time to grow your company, whilst having the peace of mind that you are insured when bad debts occur.
If you would like further information regarding credit insurance do not hesitate to get in contact with us or request a quick quote now.