3rd October 2011
The index of manufacturing output from MarkitEconomics shows that manufacturing output hit 51.1 rather than the predicted level of 48.6 and anything above 50 means growth. However, the research firm has downplayed its significance
The BBC quotes Markit economist Rob Dobson saying: "The modest return to growth of UK manufacturing output in September is a positive, but it is hard to escape the fact that the sector's performance has weakened substantially since the opening quarter's growth surge."
"These data suggest that the positive contribution of manufacturing to the broader economic recovery is likely to remain modest, at best, through the remainder of the year."
Several factors mean the news barely reaches the status of silver lining. First employment if falling, second orders are down and third the Eurozone saw a big contraction.