Recovery showing ‘balance', says UK Chamber CEO, as manufacturing shows growth

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The UK Chamber of Shipping has welcomed strong growth in manufacturing in the first quarter of 2014.

Manufacturing was the fastest growing sector in Q1 at 1.3%, outstripping overall GDP growth of 0.8% compared with 0.7% in Q4 2013.

Output increased in three of the four main industrial groupings within the economy in Q1 2014 compared with Q4 2013. In order of their contribution, output increased by 0.9% in services, 0.8% in production and 0.3% in construction. 

UK Chamber CEO Guy Platten said:

“There is now emerging evidence that the UK’s economic recovery has some balance. The shipping industry moves 95% of the UK’s exports, but manufacturing is still 11% below its pre-recession peak. It is vital therefore that the Government continues to focus on boosting manufacturing output and working with industry to explore new opportunities for growth – especially in emerging economies.”