EEF comment on IoP data

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

“Today’s data offer up a small slice of positive news for the sector, with slight pick-ups in sectors related to oil and gas possibly indicating that the effects of weak activity there could be bottoming out. Other bright spots included strong months for transport and food although it doesn’t look like it will be enough to halt a third consecutive quarter of contraction across manufacturing.

“With manufacturing clearly facing some mounting challenges this year, upcoming decisions in the Spending Review around support for exporters and innovators, along with decisions that could affect the cost base for industry, will be critical in supporting business confidence in the year ahead.”


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