TRADE OUTLOOK.

Taranaki Daily News, 12 November 1921, Page 5

TRADE OUTLOOK.

TURNED THE CORNER. BRITAIN’S NEW HOPES. EXPORTS EXPANDING. By Talegraph.—Press Assn.—Copyright. London, Nov. 10. The financial editor of The Times writes: ‘‘We have touched the bottom of the greatest trade depression in British history. The corner has been turned and considerable progress made in the liquidation of the commodities frozen up last year, and the corresponding credits have been released. Prices, especially for raw materials, are rising, shipping freights show 40 per cent, reduction, exports are considerably expanding and imports decreasing. “The bank rate is unlikely to be reduced below 5 per cent, for the present at any rate. Satisfactory progress having be>* made in the liquidation of pre-war accounts at the Stock Exchange, it is probable the fortnightly settlement will be resumed in the early part of next year. Since 1914 all transactions have been in cash, consequently the amount of speculative business lias been very limited. It is essential to a freer and wider market that speculative business should be resumed.” The editor predicts an early financial crash in Germany. Imports for October decreased £64,889,206, exports £50.030.095. and re-ex-ports £5,747,946. The principal decreases in imports were grain and flour £l-2,766.181, dutiable food and drinks £6.219,799, raw cotton £3,811,183, raw wool £3,899,941 iron and steel £‘2.041,604. Among exports cotton yarns and manufactures declined £15,782,582, iron and steel £7,571,438, woollen yarns and manufactures £5,921,4G4.