Production output increases slightly
1 min read
Production output increased by just 0.2% between Q2 and Q3 2014, but the largest contribution to the growth came from manufacturing, which increased by 0.4%, according to the latest estimates from the Office of National Statistics.
Total production output is estimated to have increased by 1.5% in September 2014 compared with September 2013. Of the four main sectors, manufacturing output was the only one to rise, increasing by 2.9%.
Manufacturing output is estimated to have increased by 0.4% between August 2014 and September 2014. The main subsectors contributing to the increase were transport equipment; computer, electronic & optical products; and chemicals and chemical products.
In the three months to September 2014, production and manufacturing were 9.5% and 4.1% 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: "Manufacturing activity was on the up for the sixth quarter running with the sector overall being a solid contributor to UK growth so far this year.
"Surveys point to this positive run continuing in the final months of 2014, with good data from sectors such as transport, food and chemicals adding to the evidence that domestic demand is playing a big role in driving output growth."
She added: "In contrast, more disappointing trends from the metals and electrical equipment demonstrate its not plain sailing for all parts of manufacturing."
