Manufacturing sector enjoys a slight growth
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NATIONAL STATISTICS reveal the manufacturing sector is keeping its head above water with marginal increases in productivity, output and wages. On the surface, this is good news for those transport companies that have seen their manufacturing base being eroded by a declining industry. But it is important to treat these figures with caution. GDP for the fourth quarter of 2007 (up 0.6%) showed a straight line growth in manufacturing once again.
Manufacturing output increased by 0.3% in the three months to February 2008, compared with the three months to November 2007. Output increased in six out of the 13 sub-sectors, with significant increases in output in the transport equipment industries (2.3%) and the chemicals and man-made fibres industries (2.0%). There was a decrease of -1.1% in the paper, printing and publishing industries.
Production GDP grew overall because the utilities — gas, electricity and water — are performing strongly, with 2.8% growth, so it's really good news for anyone who carries pipeline-related products.