High Prices Limit British Mil

Northern Advocate, 21 May 1949, Page 7

High Prices Limit British Mil

LONDON, Fri. <2 p.m.)—A fall in. Britain's export figures last .‘.month has brought fresh forebodings to spine business quarters, who, for some time, have professed to sec economic danger signals ahead, says Reuters. Board of Trade figures issued today showed that' Britain’s' adverse fraeje balance .'had more than doubled in April .and - w’as .the "biggest ~ fotr'" 12 months. " /• . :~ .. *' •‘:

Exports/s Lumped “by'£22 JJJJf )Q0 ffQin -.the..March-figures. ; ' IV ’ k-. The ■ adverse trade month - was £44i6OX),GOQ, .compared, jyith an .average of >.£21,;000,-000 for the-earlier months iof thq-yeary. / ./ Exports- V during .• - April; /..totalled £137,400,000, of which worth Was re-exported. • .v\» Reuters'says, though the decline .is comparatively slight, many businessmen believe it fits in -with trends which have been apparent-in-foreign markets.

There has been increasing • buyer resistance abroad and warnings that Britain must cut her prices, or 'she can no lodger expect buyers, ' %<. - -Linked with-these warnings.-areythe increasing restrictions placed /on imports by foreign and Commonwealth countries, -

Some..manufacturers.said,...that--with higher' "wages, '/shorter -waridng' ‘ hours, and above-aIL the rising .cost of raw materials, they , could see no way-.of sharpening- prices keenly enough to cut through; buyere’ resistance. ■ -