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Growth slowed in the last quarter, but businesses remain optimistic

In recent months, the news for the economy has been largely positive, with many businesses reporting new growth and feeling optimistic about future job creation and expansions. However, the latest set of figures that have been released were not as encouraging.

New figures recently issued by the CBI show that growth slowed in the last three months to August. More than 700 businesses from the manufacturing, retail and services industry responded to the CBI survey; figures showed that growth in the manufacturing and businesses and professional services industries slowed in the last quarter. However, there was good news for the retail industry as figures indicated that sales volumes in the retail sector have remained strong.

However, it wasn’t all bad news for the manufacturing and services industries, as although growth had slowed, it is still remains at above average and the CBI growth indicator shows that UK businesses are positive about the next three months.

Businesses were looking forward to the next quarter; they expect the next three months to be “robust” and to reach near record levels.

Commenting in a press release, Rain Newton-Smith, CBI Director of Economics, said:

"There are a few early signs that momentum in the economy may ease slightly in the second half of the year.

"However, growth is set to remain robust, and there are positive signs that the recovery is continuing along the right track.

"Alongside the strong showing from the retail sector, it’s encouraging that firms feel particularly upbeat about growth prospects as we head into the autumn.

"Businesses will continue to keep a weather eye on developments overseas, as subdued prospects in the Eurozone and international political uncertainty make the global economic environment that bit more challenging."

Future Growth

Despite the news of stalling growth, the CBI has issued a statement outlining its forecast for the rest of 2014 and it remains positive about future growth. The CBI stated that the UK recovery is on “sold ground” and said that it expected that the on-going recovery would remain on an “even keel” throughout the coming months.

However, the CBI warned that although business growth is performing better than expected, it has still to reach the pre-crisis levels of 2008. The CBI also urged politicians to keep their focus on building long-term economic security and not to just concentrate on “winning the political race”

Four companies shortlisted for windfarm contract

Four bidders have been added to a short list to own and run a transmission link for two offshore windfarms, Ofgem has announced. The competition to win the contract has been strong and the shortlisted companies are competing to own and operate more than £400 million pounds worth of high-wattage transmission links for two windfarms, which are based in the UK.

The shortlisted bidders will now go through to the final stages of the bidding, and then Ofgem will make its decision over which company will be awarded the contract to own and manage the transmission links.

The bids relate to the Westermost Rough and Humber Gateway projects and the bidding is part of the offshore regulatory regime, which was first announced as a partnership by the Department of Energy and Environment and Ofgem in 2009. The regime allows tendering for licensing offshore electricity transmission and the aim is to keep the cost of transmission links as low as possible for consumers.

Once the contract has been awarded, the new Offshore Transmission Owner will be given a 20-year license to own and operate the links, Ofgem said. The four shortlisted bidders have been named by Ofgem as the Balfour Beatty Equitix Consortium (Balfour Beatty Investments Ltd and Equitix Ltd), the Blue Transmission consortium (3i Investments Plc and Mitsubishi Corporation), Mari Energy Transmission (Macquarie Capital Group Ltd and Frontier Power) and Transmission Capital Partners (Transmission Capital Partners Ltd Partnership and International Public Partnerships Ltd).

Westermost Rough is situated in the North Sea and it is owned by WMR limited, which is part of Dong Energy A/S. There are 35 wind turbines on the wind farm and they are capable or producing 205 megawatts of electricity.

A transmission system is being developed by the owner of the offshore windfarm, and as part of the construction there will be an offshore substation platform, offshore and onshore AC export cables and an onshore substation.

Humber Gateway offshore windfarm is located off the coast of North Yorkshire and it is owned by E.ON Climate & Renewables UK. Eventually, it will have 73 wind turbines, which will have the power to produce 220 megawatts of electricity.

Ofgem says that the transmission system is being constructed by the owner of the farm; as with the other windfarm the construction will include an offshore substation platform, offshore and onshore AC export cables and an onshore substation.

Ofgem says that is expects to name the successful bidder for the Westermost Rough and Humber Gateway projects in 2015.

Wasco P250 Miniature Pressure Switch

Wasco P250 Miniature Pressure Switch features low set point range with high working pressure.

The P250 range of pressure switches have set point ranges from 1 psi to 100 psi & have an operating pressure as standard of 4000 psi with a proof pressure of 5000 psi. The P250 can be supplied with a range of process connections from the standard threaded to KF flanged or surface mounting along with a range of electrical interfaces making it a very versatile pressure switch.

There is also a vacuum switch in the same range, the V250 featuring set point ranges from 0.5 to 29.5 inHG & 3000 psi operating pressure. The V250 vacuum switch has the same process connection options & electrical interface option as the P250. 

P250 Pressure Switch

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