EEF comment on IoP and Trade data

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

“While manufacturing contracted in the last quarter there are signs that some parts of industry were at least were mounting a comeback after a summer lull. Together with the sharp rebound in October’s PMI, we may yet see some more positive data readings in the remainder of 2015 but the risks, reinforced in yesterday’s Inflation report, from weaker activity in emerging markets are likely to present some headwinds for manufacturers into next year. Indeed, another disappointing set of trade figures for manufacturing show that these effects are already being felt with a significant fall in goods exports to China over the past three months.”

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