EEF comment on Trade Data

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

“The latest data help shed some more light on the weaker first quarter GDP as the contribution from net trade looks to have been negative once again as imports accelerated at a faster pace than exports. But, the export picture looks rather better than that seen through much of last year, with a pick-up in goods exports to the gradually-recovering eurozone. While the recent weakness of Sterling may be providing some support for exporters it’s a more robust recovery in global trade, particularly in non-EU countries, that will help deliver a positive contribution to growth from trade.”


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