July Was A Weak Month For UK Manufacturing

According to official data July was a weak month for UK manufacturing.

Manufacturing output decreased with 0.5% compared with the same month last year, said the Office for National Statistics (ONS).

The overall index of production (IoP) that includes mining and quarrying and utilities increased with 0.8% for the same period.

The IoP accounts for about 15% of the UK economy.
It means that production is still 9.3% below its pre-downturn peak, achieved in the first quarter of 2008, while manufacturing is 5.2% below its peak.
If the British economy was driven by manufacturing, we could well be in seriously dire economic straits, figures released today show.
The main drags on the manufacturing figures were basic metals and metal products, transport equipment and "other manufacturing and repair".
Trade in goods increased the deficit in the latest trade figures, which were also released on Wednesday.
The trade deficit shows how much more the country is importing than it is exporting.
The overall deficit in the trade in goods and services was estimated to be £3.4bn in July, up £2.6bn from June.
That widening was attributed to trade in goods, in which the deficit was£11.1bn, compared with £8.5bn in June.