Wednesday, June 10, 2009
A glimmer of hope for industry
Posted by David Smith at 10:00 AM
Category: Thoughts and responses

Britain's manufacturing sector has been hard hit by the recession but appears to be over the worst. Output actually rose by 0.2% in April and revisions to the data mean it also rose by 0.2% in March. Overall industrial production rose by 0.3% in April. If manufacturing is coming through the worst, hard hit as it was by the collapse in trade and a sharp run down of inventories, this bodes well for the rest of the economy and in particular gross domestic product in the second quarter. More details here.

Less encouragingly, the trade deficit widened to 3 billion in April, from 2.7 billion in March, reflecting a rise in imports. More on that here.