Manufacturing output signals recovery

Manufacturing News, Source : TheManufacturer.com
Published : 10 Apr 2002 14:05

British industry is finally showing signs of recovery, experiencing its first expansion in six months.

Manufacturing output rose by 0.4 per cent marking the first increase in the sector’s production since last August.

The figures, officially released yesterday, still however left output 5.8 per cent down from a year earlier. But the news was widely regarded by City analysts as the first signs of economic recovery.

The positive figures have sparked speculation that the Bank of England will be more likely to push through an early rise in interest rates. However, the Banks’s Monetary Policy Committee will most likely want to see more a solid and steady upturn in industry before this happens, say economists.

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