UK Manufacturing Beats Forecasts

13 March 2003

Britain’s beleaguered manufacturing sector reported a better-than-expected performance in January, but recovery remains some way off.

According to the Office for National Statistics, manufacturing output rose 0.3% in January compared with December, thanks to strong growth in the computer sector.

Output was still down year-on-year, though the margin of decline, 0.3%, was the smallest for nearly two years.

“While the rise in manufacturing output is helpful,” HSBC economist John Butler warned, “the trend is still clearly poor.”

Data sourced from: BBC Online Business News (UK); additional content by WARC staff