Manufacturing Sector and Office for National Statistics

Office for National Statistics: produced its estimate after the Office for National Statistics released figures showing manufacturing lagging well behind the service sector in its ability to recoup ground lost during the "great recession" of 2008-09. The ONS said that output from UK factories remained more than 7% below its pre-recession peak, according to The Guardian. City analysts blamed the 10% rise in the value of the pound which makes exports dearer and rising tension between Russia and Ukraine for industry failure to bounce back from a drop in output of more than 1% in May and Britain is growing at its slowest pace in a year, one of the country leading think tanks said following news that the manufacturing sector is performing less strongly than the City expected. The National Institute for Economic and Social Research said it believed the economy expanded by 0.6% in the three months to July, down from 0.8% in the three months to June. Although the economy as a whole has made up the lost ground, UK factories are producing 7.4% less than they were at the time of the pre-recession peak in early 2008. (news.financializer.com). As reported in the news.