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Sliding euro deals a blow to Britain's factories

Euro notes - Factories have made competitive inroads - SantanderCB

A new report has found that factories have made competitive inroads against the US and China in the past year, but have lost ground to European rivals in a blow to Britain's export hopes. The UK was overtaken by the Netherlands and dropped one place to fifth in Boston Consulting Group's global manufacturing cost competitiveness index. Britain also underperformed against France, Germany and Italy as the euro's collapse gave members of the single currency bloc an advantage. China remains the world's most cost-competitive exporter. The United States is second, followed by South Korea, the Netherlands and then Britain.

 

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