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Uk Factory Output On Course To Slump 16%

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http://www.thisismoney.co.uk/markets/artic...=moretopstories

UK factory output on course to slump 16%

6 September 2009, 8:54pm

British manufacturing is on course to contract by 16% during the recession, a fall comparable to that seen in the early 1980s.

The estimate from engineering lobby group the EEF highlights the continued pain in the industrial sector, which has yet to see any signs of a rebound.

Manufacturing output will grow just 0.5% next year, the organisation predicted.

Yesterday the British Chambers of Commerce lifted its forecast for overall economic growth to 1.1% for 2010, almost twice its previous forecast. But this is being led by service firms, rather than manufacturers.

In a boost for the economy, however, a report by payment processing firm VocaLink showed that take-home pay jumped the most in 18 months in August.

The news comes ahead of this week's Bank of England meeting, which is expected to see rates held at 0.5%.

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So what. People do overlook that our housing market industry has recovered and that we can resume to pay for our Chinese imports with hard earned house price equity.

Spot on :lol:

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we are a knowledge economy.

while we have the knowledge that we are growing everything is well.

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Guest UK Debt Slave
No this just confirms the jobless recovery is on.

If we produce less we need less workers which will create the jobless recovery.

Don't worry

We can all make sandwiches for eachother, cut eachothers hair and run charity shops.

Everything will be fine

And don't forget to spend money you don't have on $hit you don't need. That's all that is important in the Keynesian dystopia

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