According to ONS production figures for January out today,
- Production on a seasonally adjusted basis fell by 2.9 per cent in January 2013 compared with January 2012.
- Manufacturing on a seasonally adjusted basis fell by 3.0 per cent in January 2013 compared with January 2012.
- Production on a seasonally adjusted basis fell by 1.2 per cent between December 2012 and January 2013, mining & quarrying fell by 2.4 per cent and manufacturing fell by 1.5 per cent.
- The earliest period open for revision is January 2011. The impact of these revisions on previously published Gross Domestic Product quarterly growth rates is minimal, at most around -0.03 percentage points.
- Users are reminded that all figures contained within this release are estimates.
Unite assistant general secretary Tony Burke said the figures “serve as a warning to George Osborne that his forthcoming budget must be a game-changer for the British economy”.
“As part of the budget, Britain needs a strategic manufacturing plan; but the government see,s a long way off from developing one. At present the government’s cross your fingers and hope for the best strategy is predictably failing,” he said.