INDUSTRY NEWS

Manufacturing falls prompt recession warnings

Further falls in manufacturing output have prompted warnings of an impending recession, Times Online has reported.

A fall of 0.1 per cent in November has been blamed on reduced household demand for consumer goods.

Paul Dales of Capital Economics told the paper: "We do not think that it will be too long until the deterioration in the economic climate both at home and overseas pushes the manufacturing sector into its fourth recession in eleven years."

Electrical and optical equipment makers performed worse –production of TVs and radios fell by 7.9 per cent in November and output of computers fell by four per cent over the same period.

There are warnings that the US economy is already in recession and could again cut its rates and UK house builder, Bovis has called for the UK government to do the same.

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