UK manufacturing’s heady progress appears to have slowed a little as today’s official production data showed output increasing by a modest 0.4% in October. The manufacture of transport equipment; machinery & miscellaneous equipment and rubber and plastic products all contributed to the small but positive number.
Commenting on the new Index of Production figures from the Office for National Statistics, Felicity Burch, senior economist at the manufacturers’ organisation EEF said they had brought a more mixed picture to the largely positive run of economic data of the last few months.
While output continued to grow, she added, “in contrast with the stronger domestic position, trade and export news continues to disappoint. However, this month’s figures have improved on September and the growing exports to non-EU countries shows opportunities are still out there for companies who pursue them.”
The year-on-year picture also remained in positive territory with production output in the manufacturing sector increased by 2.7% between October 2012 and October 2013 thanks to uplifts in the manufacture of transport equipment, other manufacturing & repair; and the manufacture of wood, paper products & printing.
Copyright Ken Hurst 2013