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10/03/2011
UK Manufacturing On The Up
Official statistics have shown that the UK manufacturing industry grew at its fastest annual rate in more than 16 years.
The Office for National Statistics (ONS) said output in January was up 6.8% from last year, and was at its strongest level since 1994.
The statistics indicate an econonic recovery from the 0.6% contraction seen in the last quarter.
The Bank of England's Monetary Policy Committee (MPC), have now confirmed that rates will remain at 0.5%.
The ONS added that manufacturing output increased in 12 of the 13 sub-sectors throughout the year.
Electrical and optical equipment, transport equipment, and machinery and equipment were the largest contributors to the growth.
(BMcN/GK)
The Office for National Statistics (ONS) said output in January was up 6.8% from last year, and was at its strongest level since 1994.
The statistics indicate an econonic recovery from the 0.6% contraction seen in the last quarter.
The Bank of England's Monetary Policy Committee (MPC), have now confirmed that rates will remain at 0.5%.
The ONS added that manufacturing output increased in 12 of the 13 sub-sectors throughout the year.
Electrical and optical equipment, transport equipment, and machinery and equipment were the largest contributors to the growth.
(BMcN/GK)
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