Table of Contents
The manufacturing sector is diverse, comprising a wide-ranging number of different industries, technologies and activities. The sector suffered another major blow in 2008 but it managed to recover to its pre-crisis level in 2013. The access of households to a new wave of credit has pushed up demand for manufactured goods within the United Kingdom after the Great Recession.
Features and benefits
* Describes the measures the Bank of England (BoE) has taken to tackle the economic slowdown.
* Analyzes the impact that the BoE's measures on the manufacturing sector
Five years after the onset of the financial crisis, the UK economy is emerging from the crisis with modest rates of economic growth. The recent upsurge in manufacturing activity is supported by the increase of credit to households since the last quarter of 2009.
In light of the negative events of 2009, the Bank of England launched the Quantitative Easing program (QE), with the aim of re-establishing credit conditions by accelerating the inter-bank lending. Data clearly shows that consumers are slowly pushing up the aggregate demand of the UK economy.
The British economy became highly unbalanced following the financial deregulation initially proposed by the Prime Minister Margaret Thatcher and, subsequently, deepened by a succession of Conservative and Labour governments in the 1980s, 1990s and 2000s.
Your key questions answered
* How has the Bank of England (BoE) responded to the recent economic crisis?
* Has the monetary policy from the Bank of England (BoE) been effective in dragging the manufacturing sector out of recession?
* What is Quantitative Easing?
* How have macroeconomic policies impacted the UK manufacturing sector and why?
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