ONS Index of Production statistics – Barclays Corporate comment
09 Feb 2012 15:48 GMT
Mark Lee, Head of Manufacturing, Barclays Corporate comments on December's ONS Index of Production figures:
“These figures underline a distinctly lacklustre second half for UK manufacturing last year. On face value the positive economic data coming out of the US should be welcome news for UK manufacturing, but as a significant proportion of the UK’s industrial exports to the United States are in aerospace and defence, major spending cuts in the US defence department signal a worrying time for some of the UK’s largest and most well-known manufacturers.”
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