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We have also established a team to look at our working practices with the aim of improving productivity. We are creating a considerably more reliable supplier base; and lastly, we are using information technology more creatively. To turn now to the general outlook in the UK and abroad: the situation is complex. The UK economy is forecast to slow down next year. For the economy as a whole, a recession is not expected but, for the manufacturing sectors, there are predictions of, shall we say, unfavourable conditions. Globally, however, demand for steel may well strengthen over the next year, because of improving business confidence. In the US, for instance, analysts think that consumer spending will be maintained at high levels. Although we can never be 100% sure how the markets will develop, we do feel confident that the Middle East offers profitable prospects and we expect some growth opportunities in steel or steel-related businesses in this region. |
