Qualified advisers answering your
Financial Questions
call 0800 092 1245

UK manufacturing output falls 2.9% in November

It has today been revealed that UK manufacturing output in November fell by a much worse than expected 2.9% against forecasts of just 1.5%. This devastating news comes just days after the Bank of England cut the UK base rate to 1.5% (a 314 year low) and put more pressure on the UK government to reduce rates yet further to try and stimulate an ailing economy. As expected the 2.9% fall was dominated by the transport industry which has seen demand literary evaporate over the last few months with many of the major car manufacturers on the brink of serious financial trouble.

However, there were reductions right across the board which perfectly reflects the dramatic downturn the UK economy has experienced over the last 12 months. Year on year manufacturing output fell by 7.4% figure which has not been beaten since a 7.6% annual fall back in June 1981. One of the problems which the government now has is the fact that as and when the economy does finally pick up the manufacturing industry in the UK could be so much weaker and seriously hinder economic recovery.

While the proposed rescue package for the transport industry has left the headlines over the last few days there is a feeling that, as in US, the UK government will need to step in at some stage.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details