Manufacturing and production see falls in output in January
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.Like this article? Sign up to Left Foot Forward's weekday email for the latest progressive news and comment - and support campaigning journalism by making a donation today.