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BCC: Manufacturing growth continues to slow

• Manufacturing output in the three months to September 2014: Up 0.4% compared with the previous three months, but up 3.4% compared with the same period the year earlier.

• Total industrial production in the three months to September 2014: Up 0.2% compared with the previous three months, and up 1.9% compared with same period the year earlier.

 Commenting on the manufacturing and industrial output figures published today by the ONS, David Kern, Chief Economist at the British Chambers of Commerce said:  

“While year-on-year growth for manufacturing is still satisfactory, there is a clear slowdown in the pace of growth both quarterly and year-on-year. This provides further confirmation that expansion of the UK economy has gradually eased in recent quarters.

“The manufacturing sector is still facing serious structural challenges, which have become more acute as a result of the difficulties exporters are confronted with in the eurozone. While the total UK economy is now well above its pre-recession level in Q1 2008, the latest figures show that both manufacturing and total production are still well below their pre-recession levels.

“Although the sector is now relatively small, just over 10% of the total UK economy, it remains an important driver of innovation, export and investment, and its success remains critical to a balanced UK recovery. We hope the Chancellor addresses some of these important issues facing the manufacturing sector in next months’ Autumn Statement.”

Last modified on Thursday, 06 November 2014 11:20

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