EEF comment on IoP data
10/06/2016 MAKE UK
Commenting on this week's IoP data, Zach Witton, Deputy Chief Economist at EEF, the manufacturers' organisation, said:"Whilst the size of the gain is surprising it generally fits with the picture that the worst may now be behind the sector. It also backs up the feeling that there are no concrete signs that uncertainty associated with the upcoming referendum has had a major impact on manufacturing.
"Across manufacturing sectors, the story was more positive than in recent months with further evidence that the weakness of those embedded in the oil, gas and steel supply chains is bottoming out. Overall, while month on month data can be volatile, today's data suggests that manufacturing is turning the corner and looks set to return to growth in the second half of this year."
For more information, please visit: www.eef.org.uk
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