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UK industrial output hits 2 year high

Industrial output in the UK hit a two-year high in April with the Confederation of Business Industry reporting an increase in productivity and sentiment in a recent survey. The survey showed a figure of +14 against expectations of +6 with regards to the production and the sentiment of those companies questioned. However, these figures do not seem to correlate with the performance of the UK economy in the first quarter of 2010 which was less than expected.

If you dig deeper into the industrial output figures you will see that export orders have played a major part in the improvement in sentiment and productivity although what will happen as and when the UK currency recovers?

There is no doubt that exporters are benefiting from a weaker pound which makes UK exports more attractive around the world. This is feeding into the industrial sector and could be creating a misleading impression of the overall UK economy. Exports will play a major part in the UK recovery but for a full-blown recovery to emerge we need to see this newfound optimism spreading to all areas of the UK business arena. But how long will we need to wait to see this optimism spreading right across the UK economy?

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