Industrial Output Disappoints – too Soon to Call the Recovery

After the last set of industrial production figures the National Institute of Economic and Social Research called the end of the recession in March. Now it appears that reports of its death were exaggerated, though the pace of decline is clearly slowing.

Manufacturing output fell by 0.5% between April and May while total industrial production dropped by 0.6%. The latest three-month falls for the two series were 1.2% and 1.8% respectively; some way away from stabilising. More details here.

Originally published at David Smith’s EconomicsUK and reproduced here with the author’s permission.