Output Figures Cast Doubt On Strength of Recovery; Manufacturing Decline Prompts Warning Against More Rate Rises

Summary

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UK manufacturing output fell for the second month running in December, according to figures yesterday from National Statistics which wrongfooted the City and prompted warnings that further interest rate rises could snuff out the sector's tentative recovery.

National Statistics' numbers were in stark contrast to upbeat survey evidence on manufacturing from the Chartered Institute of Purchasing and Supply and the Confederation of British Industry.

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Extract

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Output Figures Cast Doubt On Strength of Recovery; Manufacturing Decline Prompts Warning Against More Rate Rises

The official figures showed a 0.1% fall in manufacturing output in December - confounding City expectations of a rise of 0.5%. In November, there was a 0.6% dec...

See the full content of this document

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