Bob the Builder – can we fix it? No we can’t

Outlook

The new-look Bob the Builder (PA)

Some good news from the creative parts of Britain’s economy. Fireman Sam won’t have any fires to put out at the Character Group, which is engaged in the design, development and international distribution of toys, games and giftware. Its shareholders can (Peppa) pig out on dividends after it turned in a 72 per cent increase in profits.

Pinewood Studios did even better, lighting up screens like a light sabre as the new Stars Wars and James Bond outings helped it nearly treble operating profits.

Which is nice, because if most of the makers celebrated by George Osborne are marching, they aren’t marching very quickly. Markit’s purchasing managers’ index (PMI) hit a 16-month high in October, prompting widespread scepticism among just about everyone who watches these things because it was out of step with just about every other survey. It was back to reality with the latest outing, which was more in line with other data showing that the sector is slowing down.

It is still growing, which is good, but certainly not at anything like the sort of pace required to make a dent in this country’s increasingly yawning trade gap. The UK still makes too little and spends too much on imports, like Character Group’s Chinese-made toys.

Don’t hold your breath waiting for Bob the Builder to fix it? He’s with Mattel these days. And from the look of things, he’s been spending too much time in make-up to be building much of anything.