There was welcome good news for the UK economy in September, as the latest Office of National Statistic (ONS) figures showed that the manufacturing sector saw significantly increased activity in July, the strongest it has recorded since July 2002. Month-on-month progress showed the sector had grown by 3.2% in July, following on from a massive fall of 2.9% in June, which had been partly put down to the extra day off for the Diamond Jubilee. The rise well exceeded expectations of a 2% increase. Basic metals and metal products was highlighted as one of the biggest contributors to manufacturing’s big jump in production. The positive figures boost the chances of the UK recording growth for the third quarter, with both increased output across the economy and the impact of the Olympics generating revenue. There was other good news across the economy, as construction orders were also up 0.2%, suggesting that this hard-hit sector may yet be stabilising.
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