Production maintains momentum thanks to manufacturing sector

Figures from the Office of National Statistics (ONS) confirm that manufacturing output increased by 0.7% between October 2014 and November 2014. The main contributors to the increase were the manufacture of basic metals and metal products; transport equipment; and 'other manufacturing and repair'. There were increases in seven of the 13 manufacturing components compared with a year ago with the largest contributor being the manufacture of food products, beverages and tobacco. However, the ONS said total production decreased by 0.1% between October 2014 and November 2014. There were decreases in three of the main sectors, with mining and quarrying being the largest contributor, decreasing by 3.7%. In the three months to November 2014, production and manufacturing were 10.3% and 5.3% respectively below their figures reached in the pre-downturn GDP peak in Q1 2008. Lee Hopley (pictured), chief economist at EEF, the manufacturers' organisation, said: "Although confidence among manufacturers for the year ahead has waned a little, the latest trade and production data show that there was some momentum in the sector towards the end of 2014, with virtually all sectors posting some growth in November." She added: "While the UK's overall trade picture showed a small decline, manufactured exports have recorded three consecutive months of growth, a factor which will have helped push up production levels. However, with the global outlook becoming more uncertain, a continuation of this trend is far from assured."