Week in Review - 11th March, 2011

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↑ EEF's Business TrendsEEF's business trends survey for 2011q1 showed that manufacturers had another better-than-expected quarter. A balance of 25% of companies saw output expand in the last three months, and a balance of 20% saw increased orders. Orders growth was largely driven by strength in export demand.
↑ UK TradeThe total trade deficit improved to £3.0bn in January, compared with a deficit of £5.5bn in December. The trade in goods deficit also improved, to £7.1bn in January, compared with £9.7bn in December.
↑ Index of ProductionManufacturing output rose by 1% in January, more than making up for the slight dip in output in December. Output of the total production industries also rose, by 0.5% between December and January.
↔ MPC rate decisionOnce again, the MPC voted to maintain the Bank Rate at 0.5% and the stock of asset purchases at £200 billion.
↑ Producer pricesIn the year to February input prices for manufacturers rose 14.6%, this is the fastest rate since October 2008. Price rises were largely driven by oil and imported metals.Output prices also rose over the year, by 5.3%.
The week ahead
Wed 16th: Labour Market Statistics
Fri 18th: Public Sector Finances

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