Week ahead 22nd May

Subscribe to Campaigning blog feeds


After an eventful week, in which we had inflation and labour market data, as well as various party manifesto releases, this one promises to be a little quieter. There is however one data release which we will be keeping a close eye on – the second estimate of GDP which comes out on Thursday.

GDP 2nd Estimate

The first estimate of GDP came in at a slightly disappointing 0.3% (down from 0.7% for the final quarter of 2016). This fall mainly reflected a slowdown in consumer spending, as the well documented rise in inflation began to hit consumers’ pockets. Manufacturing held up well however, expanding by 0.5% after impressive growth through the back end of 2016.

Shortly after the first estimate, the Bank of England’s quarterly inflation report was published. This showed that the MPC expects a small upwards revision in the Q1 data to 0.4%. However given that March’s industrial production and construction output was weaker than what the ONS had factored into its first estimate (manufacturing was revised down to 0.3%), a revision down to 0.2% for Q1 is not out of the question.



Other articles from this author >
industrial-strategy-has-landed Industrial Strategy

EEF has long called for the creation of an industrial strategy and now that one is here we are determined to make it a success for the sector.

Read more >
Manufacturing-Local-Growth Devolution in England

How can devolution help to strengthen the business environment across England for manufacturers?

Read more >
It is time to piece together the puzzle

22 Oct 2018

Our new report on manufacturing productivity

Online payments are not supported by your browser. Please choose an alternative browser or make payments through the 'Other payment options' on step 3.