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BCC: Industrial Sector Makes Welcome Progress Despite Facing Huge Challenges

  • Total industrial production in March 2015 was up 0.5% on the month and up 0.7% on the year.
  • Manufacturing output in March 2015 was up 0.4% on the month, and up 1.1% on the year.

Commenting on the manufacturing and industrial output figures for March 2015 published today by the ONS, David Kern, Chief Economist at the British Chambers of Commerce said:

“These figures are slightly better than expected and support our view that the preliminary estimate of Q1 GDP understated the true momentum in the UK economy. It’s encouraging to see the industrial sector making progress, although it is still lagging behind other parts of the economy, particularly the dynamic services sector.

“Nevertheless, the sector has coped well with difficult global circumstances and the strength of the pound against the euro. If the current modest growth in the Eurozone continues, we may see better prospects for manufacturers in the year ahead.

“While UK growth is likely to remain dependent on the services sector, manufacturing remains a vital sector for innovation and productivity. The government must make every effort to support the manufacturing industry, particularly by encouraging more firms to explore international markets.”

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