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article imageUK manufacturing, industrial output and construction stagnates

By Kev Hedges     Jan 10, 2014 in Business
British manufacturing, industrial output and construction have fallen sharply in the UK, putting on hold any sign of the country coming out of an economic slump any time soon.
The figures released for November 2013 suggest the trend for recovery has actually slowed or even reversed slightly. The latest figures come just days after Chancellor George Osbourne warned that another £25bn ($40bn) has to be cut in austerity measures just so the country can balance the books. Working council house tenants and those under 25 and claiming housing benefits are set to be targeted.
Construction firms saw a four percent downturn in output over the month while growth slumped among manufacturers and the production sector in general, according to the Office for National Statistics.
The figures also left City of London economists weeping in their Friday lunchtime JD and coke, who now believe any hope of growth figures showing 1.0 percent or more in the final quarter of 2013 look more of a distant dream, reports The Independent newspaper.
More about Manufacturing, construction industry, growth figures, Economic downturn, Recession
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