The UK economy is not on the brink of recession although the manufacturing sector has been hit hard....
The UK economy is not on the brink of recession although the manufacturing sector has been hit hard. Manufacturing output for the three months to June fell by 2% and by 1.3% year on year, rendering a fall in output for the second successive quarter. With the painful outbreak of foot and mouth aggravating matters, it came to no-one's surprise that the sector is in recession. Jamie Lewin, global market economist at Gartmore, says: 'I think to say that manufacturing is in recession is a fair reflection of the sector. It has been experiencing difficult conditions for a while but this is...
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