Manufacturing factory output rises
UK factory output rose at its strongest annual rate in more than a year in March, suggesting the manufacturing industry has yet to be adversely affected by the global credit crunch.
Figures from the Office for National Statistics revealed that manufacturing output rose by 0.4%. Analysts had predicted a rise of 0.1%.
The news follows a recent survey by the Manufacturing Advisory Service (MAS) for London and the south-east, which found that more than 70% of the region's manufacturers feel confident about the future.
"UK manufacturers realise that they cannot compete with low cost regions on low value goods but where they are winning is through being innovative, driving up quality and by adopting the best available tools and techniques to enhance productivity," said Colin Allaway, principal specialist at London MAS.
Post Date: April 10th, 2008