06/12/2001
UK industrial output hits ten-year low
The latest figures on industrial output have revealed a ten-year low in the UK’s industrial performance.
Manufacturing output between September and October fell another 0.3 per cent in a slump that has seen UK manufacturing fall by 0.8 per cent inside the last three months.
With much bigger losses that had been anticipated, the figures from the Office of National Statistics (ONS) revealed that the main losers in the last three months have been textiles, leather and clothing, metals and metal products, machinery, electrical and optical equipment, and rubber and plastic products.
The biggest fall was in the manufacture of computer and information processing equipment sector, which showed a further significant slump, down 8.7 percent in the quarter.
Despite the consistently gloomy forecasts on economic growth there have been rises in food, drink and tobacco, fuels, chemicals, transport equipment, wood products, and some other areas of manufacturing.
However, the worst news for manufacturing is that overall the manufacturing sector is down 3.7 per cent on the same three-month period last year. Industry analysts remain concerned that this is the largest fall since the last recession hit the sector in 1991.
Before the publication of the ONS report, analysts were predicting a slight contraction in industrial output figures with manufacturing expected to remain stagnant.
Concern is increasing that the cutting of interest rates from six per cent to four per cent has achieved very little in terms of supporting the UK economy. Some analysts have expressed concerns that further cuts in interest rate may only serve to destabilise the economy. (SP)
Manufacturing output between September and October fell another 0.3 per cent in a slump that has seen UK manufacturing fall by 0.8 per cent inside the last three months.
With much bigger losses that had been anticipated, the figures from the Office of National Statistics (ONS) revealed that the main losers in the last three months have been textiles, leather and clothing, metals and metal products, machinery, electrical and optical equipment, and rubber and plastic products.
The biggest fall was in the manufacture of computer and information processing equipment sector, which showed a further significant slump, down 8.7 percent in the quarter.
Despite the consistently gloomy forecasts on economic growth there have been rises in food, drink and tobacco, fuels, chemicals, transport equipment, wood products, and some other areas of manufacturing.
However, the worst news for manufacturing is that overall the manufacturing sector is down 3.7 per cent on the same three-month period last year. Industry analysts remain concerned that this is the largest fall since the last recession hit the sector in 1991.
Before the publication of the ONS report, analysts were predicting a slight contraction in industrial output figures with manufacturing expected to remain stagnant.
Concern is increasing that the cutting of interest rates from six per cent to four per cent has achieved very little in terms of supporting the UK economy. Some analysts have expressed concerns that further cuts in interest rate may only serve to destabilise the economy. (SP)
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06 September 2001
UK interest rate put on hold despite manufacturing recession
The Bank of England has left interest rates unchanged at five per cent despite new data revealing that the recession in the UK manufacturing sector has deepened. The latest data shows that manufacturing output fell 0.9 per cent in July to stand 3.0 per cent lower than last year, the worst annual performance since January 1992.
UK interest rate put on hold despite manufacturing recession
The Bank of England has left interest rates unchanged at five per cent despite new data revealing that the recession in the UK manufacturing sector has deepened. The latest data shows that manufacturing output fell 0.9 per cent in July to stand 3.0 per cent lower than last year, the worst annual performance since January 1992.
25 March 2002
"Encouraging signs" for manufacturing recovery
Manufacturers have received another welcome boost this month with news that a Confederation of British Industry (CBI) survey has revealed that manufacturing output is expected to stabilise in the coming months.
"Encouraging signs" for manufacturing recovery
Manufacturers have received another welcome boost this month with news that a Confederation of British Industry (CBI) survey has revealed that manufacturing output is expected to stabilise in the coming months.
22 August 2001
Gap in fortunes between UK service and manufacturing sectors widens
The Office for National Statistics (ONS) has released figures which show a widening gap in fortunes between the UK's buoyant services firms and its recession-hit factories. ONS said that while service industries performed better in the spring than it had previously thought, producers had recorded a worse-than-expected decline.
Gap in fortunes between UK service and manufacturing sectors widens
The Office for National Statistics (ONS) has released figures which show a widening gap in fortunes between the UK's buoyant services firms and its recession-hit factories. ONS said that while service industries performed better in the spring than it had previously thought, producers had recorded a worse-than-expected decline.
13 August 2001
UK producer prices show marginal fall
Overall UK manufacturing prices fell by 0.2 per cent in July from those from June. According to the latest figures available form the Office for National Statistics the past year has seen the prices charged to manufacturers, the input prices, fall for the first time in over two years.
UK producer prices show marginal fall
Overall UK manufacturing prices fell by 0.2 per cent in July from those from June. According to the latest figures available form the Office for National Statistics the past year has seen the prices charged to manufacturers, the input prices, fall for the first time in over two years.
06 August 2001
Manufacturing sector revealed as ‘officially in recession’
It has been officially confirmed that the UK’s manufacturing sector is in recession following the publication of figures showing a downward trend for the second successive quarter.
Manufacturing sector revealed as ‘officially in recession’
It has been officially confirmed that the UK’s manufacturing sector is in recession following the publication of figures showing a downward trend for the second successive quarter.
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Northern Ireland WeatherToday:A sunny but frosty start for many. However cloud increases by midday with a few showers reaching the north coast, these mostly light but spreading inland this afternoon. Chilly. Maximum temperature 8 °C.Tonight:A rather cloudy evening with scattered showers. Becoming drier through the night with some good clear spells developing and a patchy frost away from coasts. Minimum temperature 0 °C.
