EEF North West comment on IoP and trade data

Commenting on today’s IoP and trade data, Darrell Matthews, EEF North West Region Director, said: “This is a mixed bag of data which breaks the run of consistently upbeat indicators in recent months.

"Whilst August unwound some of the gains in June and July, the declines were particularly concentrated in a few sectors, namely food, pharmaceuticals and electronics.

"However, the trade news was a little more positive with exports edging higher, thanks to gains in markets outside Europe.

“Despite this monthly setback on production, manufacturing should make a positive contribution to third quarter GDP growth and other business surveys seem to align behind a continuation of this trend through the final months of the year.”