Expand but Activity is Generally High The seasonal expansion in new business which is usually noticeable at this time of the year has so far failed to materialize. In many directions, particularly in the export trade, the volume of fresh orders has been restricted if it has not, actually declined and, consequently, stocks have tended to accumulate. At the same tithe, the general level of activity remains high.
Compared with the corresponding period twelve months earlier, the Board of Trade returns for February reveal a further increase in the turnover of United Kingdom overseas trade. They show, however, an accentration of the less satisfactory trend which had become apparent in the two preceding months, wh-n there was a slackening in the rate of increase, especially in exports, Imports in February, although they were again higher, recorded only a moderate expansion over February, 1937, the rise being smaller than in any other month since September, 1935, while, for the first time since November, 1936, the upward movement in imports was accompanied by a decline in the value of British exports. Re-exports were lower and there was also a contraction in transshipments under bond.
British Re-Imports Exports Exports (In £'s millions) February, 1938 793—3015—55 January, 1938—850—412—4B February, 1997—713—388—69 Jan.-Feb.. 107 7387 103 Jan.-Feb., w3 2 120
On the whole, the coal mining indùstry did well last month and production was large. Demand for industrial fuel has again been strong, but the warm weather has reacted unfavourably upon trade in household coal, The quantity of saleable coal raised from the mines in Great Britain during February amounted to 20,098,900 tons, against 20,832,200 tons in January, 1938, and 19,796,800 tons in February, 1937.
Text read from the printed page and cleaned; old type leaves the occasional error.