End of manufacturing slump imminent

Manufacturing News, Source : TheManufacturer.com
Published : 09 Apr 2002 15:20
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UK manufacturing output has increased, raising hopes that the long downturn in the sector may be over.

The revival will make it easier for the Bank of England to start raising interest rates. Some economists have speculated that the Bank may start increasing the cost of borrowing as early as next month.

The Office for National Statistics said today that manufacturing output rose by 0.4 per cent in February – boosted by increased production of pharmaceuticals and by the first rise in engineering output and investment goods since August.

Exports by UK industry as a whole declined in February, proving the continued weakness of overseas demand. Exports of goods to the eurozone rose, but exports to Japan and the US fell.

 

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