Commenting on today’s IoP data, Ms Lee Hopley, Chief Economist at EEF, the manufacturers’ organisation, said:
“Manufacturing made up some ground in June although annualised growth has been on a weakening trend since the start of this year. Under the headline there are some big swings in sectoral output, with the biggest gainers being the ever-resilient transport sectors and electronics.
“But, weak demand for investment goods seen throughout this year continues to drag on growth across the sector. While parts of manufacturing at least are still on the march, an improved outlook in export markets and oil and gas investment is needed to turn a modest growth outlook into something more significant.”