BCC: Manufacturing figures indicate economy is making progress

  • Manufacturing output in April 2014: up 0.4% on the month, up 4.4% on the year
  • Total industrial production: up 0.4% on the month, up 3.0% on the year

Commenting on the manufacturing and production figures for April 2014, published today by the ONS, David Kern, Chief Economist at the British Chambers of Commerce (BCC) said:

“These figures reaffirm our recent Economic Forecast that GDP will grow by 0.8% in the second quarter of 2014. While the manufacturing sector’s contribution to the overall economy remains relatively modest, it is pleasing to see that its annual growth is in excess of 4.0%, somewhat higher than that of the total economy.

“To build on these figures, it is imperative that further steps are taken to broaden the recovery towards investment and exports, where manufacturing can have a positive impact. The government must keep boosting efforts to support UK exporters and improve access to finance for growing firms.”

Written on 10th June 2014Lillie Geistdorfer. Published in BCC, Economy, News