EEF comment on IoP and trade data

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EEF comments on latest IoP and trade data

Commenting on today’s IoP and trade data Ms Lee Hopley, Chief Economist at EEF, the manufacturers’ organisation, said:

“Although confidence amongst manufacturers for the year ahead has waned a little, the latest trade and production data show that there was some momentum in the sector towards the end of 2014, with virtually all sectors posting some growth in November.

"While the UK’s overall trade picture showed a small decline, manufactured exports have recorded three consecutive months of growth, a factor which will have helped push up production levels. However, with the global outlook becoming more uncertain, a continuation of this trend is far from assured.”

The 0.7% increase in November made up for the fall in October with notable gains made in chemicals and electronics.  Production levels are up 2.7% on a year ago

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