10/05/12

  • Manufacturing output in March 2012: up 0.9% on the month, -0.9% on the year

Commenting on the manufacturing output figures for March 2012, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:

“The increase in manufacturing output in March was slightly stronger than expected, but this was no surprise following the decline in February. However, with output flat over the quarter, and year-on-year falls across the wider production index, there are still challenges ahead.

“The new data highlights the difficult circumstances still facing the UK economy. Tough austerity measures are squeezing domestic demand, and renewed uncertainties in the eurozone continue to pose new challenges for UK exporters. While the economy remains fragile, businesses should be given the support they need to drive recovery. The flow of lending to firms must be increased, the regulatory burden eased and Britain’s exporters must be able to compete when trading overseas.”

Ends

Notes to editors:

ONS: http://www.ons.gov.uk/ons/rel/iop/index-of-production/march-2012/stb-iop-mar-2012.html

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 over 100,000 businesses across the UK, which employ over five million people. For more information visit: www.britishchambers.org.uk

Media Contacts:

Liz Larvin
Tel: 020 7654 5813 / 07825746812
Email: l.larvin@britishchambers.org.uk

Lisa Morrison
Tel: 020 7654 5812 / 07717682221
Email: l.morrison@britishchambers.org.uk