UK leads in bottoming out
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THE INTERNATIONAL road transport market in the EEC appears to have "bottomed out" and is gradually improving — with recovery prospects looking best in Britain.
According to the EEC Commission's Transport Survey, which is made every three months, activity in the third quarter of last year was the same as in the second quarter.
But as there is normally a seasonal fall in the July-September period this is hailed as an optimistic sign.
There was a slight improvement in the utilization rate of rolling stock and the percentage of firms taking on drivers rose from 12 to 14 per cent.
In Britain, 26 per cent of firms reported an increase in traffic compared with an EEC average of 18 per cent while 50 per cent of British hauliers — the highest in the EEC — had made investments.
But there is still one ominous sign: as many as one EEC firm in two reported liquidity problems.
French and Italian transport firms were worst hit, but the number of British firms with financial problems is also slightly above the EEC average.