EEF NW comment on Industrial Production figures
Date published: 09 July 2013
David Ost, North West Region Director at EEF
Commenting on today’s Industrial Production figures, EEF the manufacturers’ organisation North West Region Director, David Ost, said: "The latest trade and production figures cast a bit of a cloud over the positive run of industry data in recent months.
"In contrast to previous indicators, today's data point a continuation of difficult conditions across most sectors. Output gains in electrical equipment and transport sectors weren't enough to offset bigger contractions in pharmaceuticals and metals. We did, however, see some growth in exports and signs of stabilitisation in Europe provided a slight lift for overseas sales.
"While the ONS data suggest industry's contribution to growth in the second quarter is likely to be limited, there are signs that confidence is returning and growth should start to resume as we move into the second half of the year. This needs to be quickly followed by a pick up in investment if the UK is to make any progress towards better balanced growth."
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