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Turbulence in Europe ''holding back production''

27 January 2012
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Turbulence in Europe ''holding back production''A recent EEF survey of people in manufacturing management roles show they remain positive about the coming year despite the production sector struggling to cope with Europe's turbulent economic position.

However, EEF chief economist Lee Hopley said difficult market conditions in the continent are now affecting production as well as consumer confidence amid concerns over a panEuropean economic depression.

"While there is little sign that this uncertainty will come to an end any time soon, we can take some heart that output appears to have begun growing again in December," Ms Hopley explained.

Recently published data from the Office of National Statistics bear out Ms Hopley's concern over production and consumer sentiment.

Output of the production industries decreased by 1.2 per cent in Q4 2011, compared with an increase of 0.2 per cent in the previous quarter.

Overall the chained volume measure of GDP decreased by 0.2 per cent in the fourth quarter.ADNFCR-3058-ID-801276976-ADNFCR
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