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Output falls for the sixth month in row
07.10.08
British manufacturing has plunged into its worst crisis for nearly 30 years as the economy heads into recession.
The Office for National Statistics today said factory output slumped 0.4% in August, a six consecutive monthly drop and double the 0.2% decline expected by analysts.
The last time output fell six months in a row was between July and December 1980. Howard Archer of Global Insight said the news for manufacturers is "relentlessly bad at the moment", with the sector now in recession.
Paul Dales of Capital Economics said: "It continues the run of very weak news over the past weeks."
