A sharp rebound in the British motor industry may have ended five successive quarters of contraction and pulled Britain out of recession sooner than expected – though only to reach a state of "stagnation".
The Office for National Statistics reported yesterday that manufacturing output rose by 0.8 per cent in July, following a 0.6 per cent recovery the previous month. Output of motor vehicles led the charge, rising by 10.4 per cent in July.
The end of the "destocking" by car dealers and the impact of the scrappage subsidy were said to be the main drivers of the industrial resurgence. The figures are the best since January last year.
Read more: http://www.independent.co.uk/news/business/news/car-sales-to-drive-uk-out-of-recession-1783892.html
www.ukba.co.uk
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