Data released by the Office for National Statistics (ONS) has shown a 0.5 per cent drop in UK manufacturing output for March – the sharpest rate of decrease in six months.
The results were weaker than expected and signal yet more economic concern for the sector.
“[This] is another soft economic reading for March and it suggests the slowing in the economy is gaining traction,” said George Buckley of Deutsche Bank.
On a more positive note, output for the first quarter of 2008 increased by 0.3 per cent compared to the fourth quarter of 2007.
