Wednesday 7 August 2013
Strong manufacturing figures for June 2013 should be seen as a boost for UK trade and industry, it has been suggested.
Figures published by the Office for National Statistics indicate that production output rose by 0.6 per cent between Q1 2013 and Q2 2013, while manufacturing increased by 0.7 per cent over the same period.
David Kern, chief economist at the British Chambers of Commerce (BCC), described the figures as "positive news" for the UK economy.
"There has certainly been an important change for the better in the second quarter of the year," he stated.
Mr Kern said the likelihood is this will increase if construction and services also improve.
However, he warned that there can be no room for complacency, with the level of UK output still three per cent below its pre-recession peak in 2008.
Mr Kern said the manufacturing sector still faces "major challenges" over the months ahead, meaning the government must do more to refocus its priorities.
"While recent figures support our view that more quantitative easing is unnecessary, businesses need a stable environment with reassurance that interest rates will remain at very low levels for the foreseeable future," he added.
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Posted by Dan Smith