EEF comments on GDP figures

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Responding to this month’s GDP figures,Lee Hopley, Chief Economist at EEF, the manufacturers’ organisation, said:

“UK growth strengthened in the second quarter thanks to buoyant services activity and a resurgent mining and quarrying sector. This should help ensure the UK retains its top spot in the G7 rankings. The news wasn’t wholly positive, with manufacturing breaking its run of growth over the past two years with a 0.3% decline in output. This was signalled by falls in production data in April and May, but signs of a pickup in June offer something of a silver lining.

“Uncertainty in major export markets and a stronger pound undoubtedly played a part in the weaker performance, but the biggest contractions were found in metals and engineering sectors, which provided a hefty drag over the quarter.”


Media Team 020 7654 1576

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