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BCC: Sharp Manufacturing Decline Points to Slowing Growth in First Quarter

  • Manufacturing output in February 2016 was -1.1% on the month, and -1.8% on the year
  • Total industrial production in February 2016 was -0.3% on the month, and -0.5% on the year

Commenting on the UK Index of Production figures for February 2016, published today by the ONS, David Kern, BCC Chief Economist, said:

“The worse than expected manufacturing figures for February reinforce our assessment that GDP growth in the first quarter of 2016 will show a slowdown compared with the fourth quarter.

“A healthy manufacturing base remains critical for the UK economy in areas such as productivity, innovation and exports. While the UK manufacturing sector still retains key areas of strength, more effort is needed to help the sector compete against global headwinds, which will enable us to retain a vibrant manufacturing base to support future economic growth.”

Last modified on Monday, 11 April 2016 09:29

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