BCC: Manufacturing Recovery Is On The Right Track
8th July 2010
Commenting on the manufacturing output figures for May, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:
"May's small increase in output confirms that the manufacturing recovery is on the right track, and supports the positive messages signalled in the BCC's latest economic survey.
"The new figures leave manufacturing firmly in positive territory when compared with a year ago, and they reinforce expectations that GDP will record stronger growth in the second quarter of 2010. But, there is no room for complacency and the level of manufacturing output is still some 10% below that recorded in 2007.
"It is now important to support the welcome signs of recovery. With a competitive pound, UK manufacturers are in a strong position to increase their exports. However, given weaknesses in the eurozone, firms will have to look to other global markets for an export-led boost."
