Manufacturing new resilience

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The number of insolvencies among Yorkshire manufacturers and construction firms has fallen, according to a study by PwC.

The accountants and business advisers say manufacturing insolvencies were down by 17 per cent and construction insolvencies fell by 10 per cent in the region during the first quarter.

PwC’s Richard Bunter said: “The reduction in manufacturing insolvencies in the region is encouraging, but with rising raw material costs and no imminent signs of a material economic recovery, the outlook remains tough.”