Supply chain problems hit UK factories as fuel crisis enters second week | a job

Good morning, and welcome to our continued coverage of the global economy, financial markets, business and the UK supply chain crisis.

“When sorrows come, spies do not come alone. But in battalions!” As Claudius Put it wisely in a village. Today, the UK is facing a truckload of trouble.

Business confidence has slipped off a cliff, as supply bottlenecks, rising energy prices, fuel shortages and impending tax increases weigh on the economy.

The Institute of Directors He warned that business confidence in the UK has fallen to its lowest level since February, deep in the latest lockdown.

Its business sentiment index fell from +22 to -1 in September which means a return to the pessimism that prevailed in February, when the economy was constrained by lockdown restrictions.

Institute of Directors' Index of Business Confidence

Institute of Managers’ Index of Business Confidence Photo: IoD

Kitty eyebrow, chief economist at Institute of DirectorsHe said the UK business environment had “deteriorated significantly” in recent weeks.


After a period of optimism in the early summer, people running small and medium-sized businesses across the UK are becoming much less certain about the overall economic situation and the IoD Managers’ Economic Sentiment Index fell in September.

A higher proportion of our members anticipate higher costs in the coming year than expected to increase revenue. The government’s recent decision to raise employers’ National Insurance contributions, which acts as a disincentive to hiring when the leave scheme expires, did not help this matter.

Unions, economists and other business groups have also warned against it Yesterday’s end of the holiday scheme will only add to the UK’s economic woes.

The oil crisis has entered its second week. Yesterday, nearly half of all independently owned petrol stations in the UK were still dry or ran out of one type of fuel on Thursday, after Buying the panic that hit the front yards last Friday.

With the growing demand for sites still rapidly depleting, soldiers are on standby to drive tankers to aid in refueling efforts amid a shortage of heavy truck drivers.

Brian Maderson, president of the Petroleum Retailers Association, warned yesterday:


“There has been no easing of pressure from drivers wanting to refuel whenever and wherever they can. Trying to calm this down seems to be a daunting task at the moment.”

The gasoline crisis is improving in north-east England, Yorkshire, Scotland and Wales, but large areas still suffer major shortages, according to an internal Whitehall analysis. Seen by the Times.

This analysis shows that fuel levels are still very low:


Average front-court fuel levels remain at 20 percent for the fourth day in a row, compared to the usual 43 percent. Industry sources said there could be a disruption of up to a month.

Whitehall’s analysis classifies each area as red, amber, or green. It shows that in England, London, the Southeast, Northwest, West and East Midlands are marked in red, with levels below 20 per cent.

times
(@times)

The gasoline crisis is improving in north-east England, Yorkshire, Scotland and Wales, but large areas still suffer major shortages, according to an internal Whitehall analysis. https://t.co/ZWW7ZxhKr2


October 1, 2021

Wider shortage of heavy truck drivers hits economy, prompting warnings Christmas can be severely disrupted Where families struggle to find food and festive gifts.

Daily Star
(dailystar)

Tomorrow’s front page: Now experts say shortages will spoil Christmas # Hahaha https://t.co/aCXSDXu8wc pic.twitter.com/ijKQPdxepq


September 30, 2021

The government has also been urged to allow more butchers into the country, with Britain’s farming sector warning that hundreds of thousands of pigs could be culled within weeks.

Lizzie Wilson, Policy Services Officer at National Pig Association (NPA)The shortage of butchers, he said, means processors are running at 25% lower power. This means that mature pigs that are ready to be processed support the farms, causing welfare issues.


“There are about 120,000 pigs sitting on the farm currently that were supposed to be butchered and slaughtered already, be in the food chain and are now being eaten,”

Households in the UK are also seeing their energy bills rise today, as the cap on energy prices has been raised. The cap means that those who are subject to the default tariffs paid by direct debit will You see their bills go up £139 From £1,138 to £1,277, based on typical use.

It will add to the cost-of-living pressures families are facing this winter. Charities warn that the government’s new £500m Winter Suffering Fund will not provide enough support, given the £20 cut in comprehensive credit next week.

But the cap increase has been outpaced by an increase in global energy prices in the past few weeks, which has forced many UK suppliers out of business.

Javier Plus
(JavierBlas)

European natural gas: another record. The chart is the UK NBP standard, which is trading at around $32 per million British thermal units, or about $180 per barrel of oil equivalent | #EuropeanEnergy # commodity inflation pic.twitter.com/ey4AohhSPg


September 30, 2021

On the economic front, we are getting new inflation data from the US and the Eurozone that will be closely watched, seeing how global factories performed last month.

The data already released today shows that Manufacturing activity in Asia was weak in September Amid signs of slowing Chinese growth and factory closures due to the Corona virus pandemic.

Investors are also pessimistic, as European stock markets are expected to open lower after sharp falls in Asia-Pacific exchanges overnight (Japan’s Nikkei closed 2.3% lower).

IGSquawk
(IGSquawk)

European opening calls:#FTSE 7026 -0.86%#DAX 15094 -1.09%#CAC 6457 – 0.97%# AX 764 – 1.08%#MIB 25382 – 1.18%#carib 8702 -1.07%#OMX 2224 – 1.55%#STOXX 4002 – 1.14%#IGOpeningCall pic.twitter.com/cBS3ZPvKZZ


October 1, 2021

IGSquawk
(IGSquawk)

# nikai 28686 – 2.73% pic.twitter.com/ZTWoPJid43


October 1, 2021

schedule of work

  • 9 am GMT: Eurozone Manufacturing PMI survey for September
  • 9:30 am GMT: UK Manufacturing PMI survey for September
  • 10:00 GMT: Eurozone inflation report for September
  • 1.30pm GMT: US PCE inflation gauge for August
  • 2.45pm GMT: US September manufacturing PMI survey
  • 3pm GMT: University of Michigan survey of US consumer confidence

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