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Article: Fitter business. (British industry and the recession) (editorial)
- Article from:
- The Economist (US)
- Article date:
- August 31, 1991
CopyrightCOPYRIGHT 1991 Economist Newspaper Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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British industry is starting to come out of recession. Some good
has been done, more work is still needed
THE boom of 1984-89 allowed too many British companies get away with bad decisions and to put off tough ones. The current recession, like its predecessor, has been forcing them to get themselves into better shape. With increasing signs that the economy is on the turn (see page 47), it is time to consider the purgative value of the past two years. Preliminary judgment: British industry has been less than heroic, but its performance has been good enough to suggest that lessons have been learnt since the 1980-81 slump. Failures to invest in plant and ...