UK Manufacturing Figures Increase
Despite a worldwide credit squeeze and uncertainty in the global economy, the UK’s factory output has actually increased against projected figures.
According to this morning’s figures from the Office of National Statisitcs (ONS) February saw UK manufacturing increase by 0.4% better than the predicted 0.1%
The food, drink & tobacco and chemicals & man-made fibres manufacturing sub-sectors showed the greatest increases in output.
Of the thirteen manufacturing sub-sectors monitored by the ONS, eleven increased output whilst just two showed a decrease in output.
The annual rate for manufacturing output rose to 1.9% for the year to the end of February, that’s the best rate of production increase since back in December 2006.
The figures suggest that the UK, the world’s fifth largest manufacturer, is proving to be quite resilient against a gloomier worldwide backdrop.