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Manufacturing figures further heighten risks of UK recession

05/08/08 | 14:36

Commenting on the June manufacturing figures published by the ONS today, David Kern, Economic Adviser to the British Chambers of Commerce, said:

"We are not surprised by the sharp fall in manufacturing output; a development that was forecasted by the BCC's last Economic Survey.

"Although a major recession can still be avoided, the risks of negative growth in one or two quarters this year have clearly increased. While the manufacturing figures may not be enough to persuade the MPC to cut interest rates on Thursday, the option of a cut later in the year must be firmly on their agenda."

Ends

Media Contacts:

Fiona Cunningham
Tel: 020 7654 5812
Email: f.cunningham@britishchambers.org.uk

Sam Turvey
Tel: 020 7654 5813
Email: s.turvey@britishchambers.org.uk

Notes to Editors:

The British Chambers of Commerce (BCC) is the National Voice of Local Business.
The BCC sits at the heart of a powerful nationwide network of Accredited Chambers of Commerce serving business across the UK, which employ over five million people.

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