EEF comment on IoP data

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

“Manufacturing’s recent run of growth came to a halt in February though the picture across sectors was more varied, with some hefty output falls in some key sub-sectors. Whilst there doesn’t appear to have been an appreciable impact on the sector’s performance from the ‘Beast from the East’ in February, weather-related events may yet have a bearing on the numbers in the coming month however.

“Despite this, the data looks more like a temporary wobble than a turn for the worse. Whilst other indicators may have softened since the start of the year, on-going growth in the global economy should continue to spur growth across manufacturing in the coming quarters.”

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