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:

“Manufacturing output bounced back with the gains reasonably broad based across the sector. While this is consistent with the improving sentiment we've seen since the start of the year, it's premature to call this a turning point for the sector. We've got decent consumer demand and a more competitive exchange rate providing a supporting role, but the major challenges of low commodity prices, emerging market weakness and elevated uncertainty are still very much in play at the start of 2016.”

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