New official manufacturing output data bucks upward trend

ONS300New official UK manufacturing figures have been greeted as “a mixed bag” with production output for August having decreased by 1.2% month on month after two consecutive increases.

Commenting on today’s Index of Production (IoP) from the National Office for Statistics (ONS), EEF chief economist Lee Hopley 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, she added: ““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.”

In the year between August 2012 and August 2013, manufacturing output fell 0.2% with the manufacture of some machinery and equipment, pharmaceuticals and metal products contributing to the drop.

The August fall was attributed to output in the manufacture of pharmaceuticals, computer, electronic and optical products; and the manufacture of food products, beverages & tobacco.

This material is protected by copyright Ken Hurst 2013.

Advertisements

About Ken Hurst

Ken Hurst began his career as a journalist in London over 30 years ago, working on a range of publications before moving on to weekly newspaper production in the newly-independent Zambia of the 1970s. He returned to the UK where his work included spells on newspapers and magazines, before moving to head up Norwich Union’s corporate affairs division. In the 1990s he moved on to freelance, co-own and publish the B2B audio magazine Sound and front the BBC radio Yesterday’s Papers programme. There followed six years as Business Editor at Britain’s biggest selling regional daily newspaper, The Eastern Daily Press, where he led an award-winning team and for whom he still writes a weekly socio/political comment column. Subsequently, he was Group Editorial Director at CBM, responsible for its UK and US magazine output – including The Manufacturer magazine – research-driven industry reports and live events content. Currently he is Contributing Editor at Works Management magazine publisher Findlay Media and Chairman of the consumer publishing house TNT Multimedia Ltd. He is a Fellow of the Royal Society of Arts and of the British Association of Communicators in Business.
This entry was posted in Electronics, Food & beverage, Government/statistics, machinery, Manufacturing management, metals, Pharma and tagged , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s