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Manufacturing gains push up GDP growth

26 May 2010
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Manufacturing gains push up GDP growthThe UK''s economy expanded by 0.3 per cent during the first quarter of 2010, driven up by increases in manufacturing.

Figures for the three months to March have been revised upwards by the Office for National Statistics (ONS) from gross domestic product growth of 0.2 per cent.

The data indicates the economy is recovering from the recession and follows a 0.4 per cent gain in the fourth quarter of 2009.

Over the first quarter of the year, manufacturing increased by 1.2 per cent, its highest jump for four years.

Commenting on the latest figures, Lloyds TSB Corporate Markets'' Adam Chester told the Guardian: "The key underlying message here is that we are seemingly seeing some rebalancing away from consumer spending towards industrial production."

Those considering taking an APICS qualification may also be interested to learn that the Confederation of British Industry has credited strong export order books with boosting production in the UK.ADNFCR-3058-ID-19801003-ADNFCR
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