EEF comment on IoP Q1 2015 results

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Commenting on the latest IoP results, Ms Lee Hopley, Chief Economist at EEF, the manufacturers’ organisation, said:

“Today’s IoP follows the less than encouraging picture emerging from last month’s GDP figures. Growth in manufacturing output has slowed to 0.1% for the first quarter of 2015, following a weaker than expected performance in key export markets and some domestic headwinds. Despite the slackening pace of growth, manufacturing output has increased every single quarter in the past two years and with surveys showing solid industry confidence this is expected to continue through 2015. Still, recent data releases reinforce business calls for government to stick with its industrial strategy and maintain funding for important levers of growth, including research and innovation and support for exporters.”

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