Manufacturing growth 'must be enforced'

The recent positive manufacturing growth in the UK now needs to be reinforced, according to the British Chambers of Commerce (BCC).

New figures show that manufacturing output in September was 0.2 per cent up on the month and 2.0 per cent on the year, with many firms reporting a boost in job creation to cope with increased demand.

Commenting on the figures David Kern, chief economist at the BCC, noted they are better-than-expected and said that seeing the sector remain in positive territory despite difficulties in the eurozone and tough austerity measures in the UK is "reassuring".

"Last month's increase in quantitative easing was a good start, but it is not enough. Further efforts must be made, both by the government and the Bank of England, to implement credit-easing measures with a particular focus on small- and medium-sized firms," he explained.

Mr Kern added that the Autumn Statement at the end of November will provide the Chancellor with a prime opportunity to introduce more policies to support growth, and to reallocate priorities within the overall spending envelope.

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Posted by Nikki Barrister 

Filed: 11-11-2011