- Total industrial production in February 2015 was up 0.1% on the month, and up 0.1% on the year
- Manufacturing output in February 2015 was up 0.4% on the month, and up 1.1% on the year
Commenting on manufacturing and total industrial output figures for February 2015 published today by the ONS, David Kern, Chief Economist of the British Chambers of Commerce said:
“February figures showed a modest improvement after last month’s declines but underlying industrial growth remains weak and so manufacturers will continue to face serious challenges. However, in the face of these difficult conditions our manufacturing sector has coped well with the rise in the pound against the euro over the past year and the sector has largely succeeded in maintaining its skills base during the recession. It is a credit to their strength and resilience.
“While UK growth is likely to remain dependent on the healthy and dynamic services sector for the foreseeable future, there is no room for despondency. The manufacturing sector is in a good position to move forward when world circumstances improve, but only if low interest rates are maintained.”