BCC comments on index of production figures

Commenting on the index of production figures for September 2016, published today by the ONS, Suren Thiru, Head of Economics at the British Chambers of Commerce (BCC), said:

“The pick-up in manufacturing output in September was unable to halt the overall decline in total industrial output in the month. It is concerning that the longer-term trends show that manufacturing and total industrial output are adding little to overall UK growth.

“While the declining value of sterling has provided a boost to some exporters, it has also meant that some manufacturers are facing the increasing cost of imported materials, particularly those who are locked into global supply chains.

“It is vital that this month’s Autumn Statement is used to support firms during this period of uncertainty – through greater investment in our infrastructure, and incentivising business investment.”