- Manufacturing output for February 2014: up 1.0% on the month; up 3.8% on the year
- Total industrial production: up 0.9% on the month, up 2.7% on the year
Commenting on the manufacturing and production figures for February 2014, published today by the ONS, David Kern, Chief Economist at the British Chambers of Commerce (BCC) said:
“These figures support the positive messages conveyed by our new Quarterly Economic Survey, which show six manufacturing balances at all-time highs. While the share of manufacturing in the UK economy remains relatively modest, it is hugely important to our economic recovery, so it is pleasing that the sector is growing faster than total GDP.
“To build on these figures, it is important to reinforce efforts to broaden the recovery towards investment and exports. The Bank of England must strive to maintain an environment that boosts investment, with clarity on interest rates and action to keep inflation low. At the same time, the government must continue its efforts to boost access to finance for growing firms.”