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12/03/2002
UK manufacturing output continues to slide
The latest government figures have shown UK manufacturing output was down 0.4 per cent on December's figure, 6.1 per cent lower compared with January 2001.
The Office for National Statistics (ONS) revealed that the UK's industrial output continued to fall in January, down 0.5 per cent from the previous month, and by just over five per cent on a year earlier.
While the figures were worse than expected, the ONS pointed out that manufacturing output would have risen overall if it had not been for the slump in electrical equipment. Output in the electrical and optical equipment sector fell by 6.4 per cent in January from the previous month.
However, recent surveys of manufacturing firms have suggested that the sector could finally be heading out of recession.
The effects of the recession have been largely offset in the UK by the growing service sector and the continued strength of consumer spending.
The consumer sector has surprised many analysts by its resilience despite strong pressures.
(MB)
The Office for National Statistics (ONS) revealed that the UK's industrial output continued to fall in January, down 0.5 per cent from the previous month, and by just over five per cent on a year earlier.
While the figures were worse than expected, the ONS pointed out that manufacturing output would have risen overall if it had not been for the slump in electrical equipment. Output in the electrical and optical equipment sector fell by 6.4 per cent in January from the previous month.
However, recent surveys of manufacturing firms have suggested that the sector could finally be heading out of recession.
The effects of the recession have been largely offset in the UK by the growing service sector and the continued strength of consumer spending.
The consumer sector has surprised many analysts by its resilience despite strong pressures.
(MB)
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