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PostPosted: Tue Jan 17, 2012 7:05 am    Post subject: Herve Leger, Herve Leger Dress, Herve Leger UK Online Shop . Reply with quote

U.K. May Manufacturing Output Rises Most Since Mar 16.01.12 / herve leger / Author: adminTags: Tag heuer replica watches By Svenja O'Donnell (Updates with Niesr growth estimate starting in 11th paragraph.) July 7 (Bloomberg) — U.K. manufacturing rose at the fastest pace in more than a year in May as factories rebounded from the impact of an extra public holiday in April and the Japanese earthquake. Factory output increased 1.8 percent from the previous month, the most since March 2010, the Office for National Statistics said today in London. It declined 1.6 percent in April. The median of 26 forecasts in a Bloomberg News survey was for a 1 percent gain. While manufacturing has driven the recovery from recession Tag heuer replica watches, recent survey data suggest factory output may be slowing as government budget cuts and soaring prices hit consumer confidence and global demand weakens. Blue diamond studio limited edition headphone The Bank of England kept its benchmark interest rate at a record low today. “There was every reason for manufacturing to be strong as things got back to normal,” said Alan Clarke, chief U.K. economist at Scotia Capital in London. “I don’t think we’re going to be seeing the pace of expansion that we got six months or so ago. The recovery is going nowhere fast.” Out of 13 categories in manufacturing, 11 increased and two fell, the statistics office said. The biggest gains were posted by producers of machinery and transport equipment as the effect of supply disruptions caused by the Japanese quake diminished. Production in April was also disrupted as plants shut down and workers booked vacations to take advantage of consecutive four-day weekends to mark Easter and the royal wedding. ‘Normal Levels’ Evidence from companies in May suggests sales were returning to “normal levels Tag heuer replica watches,” the statistics office said. From a year earlier, manufacturing rose 2.8 monster beats by dre studio apple green headphone percent in May. Overall industrial output rose 0.9 percent on the month and fell 0.8 percent on the year. There were declines of almost 6 percent in mining and quarrying and oil and gas output in May. In the three months through May, manufacturing declined 0.2 percent from the previous quarter and industrial production fell 1.5 percent, suggesting industry will act as a drag on growth in the second quarter. The U.K. economy probably grew just 0.1 percent between April and June following its 0.5 percent expansion in the first three months of the year, the National Institute of Economic and Social Research said today. ‘Weak’ Growth “The effects of one-off events in April have depressed the overall quarterly growth rate,” the London-based research group said. “However, even accounting for these factors the underlying rate of growth is still likely to be weak. These figures do not provide a picture of economic growth that would support a tightening of monetary policy at this juncture.” Global demand and the weakness of the pound have boosted exports, helping Prime Minister David Cameron’s government rebalance the economy away from domestic spending and financial services. Recent survey data suggest that the recovery is struggling to gain momentum, with reports this month showing manufacturing and construction growth slowed in June, while an index of services stayed close to a three-month low. Demand is being hit by government spending cuts while high inflation is eroding Studio Graffiti Limited Edition headphone household incomes at the fastest pace since the 1970s. Meanwhile, the outlook for exporters has been clouded by Europe’s debt crisis and monetary tightening in emerging markets such as China and in the euro region, where the European Central Bank today raised its benchmark rate for the second time this year to fight inflation. Data last week showed manufacturing slowed in June in China, India and the euro area. Profit Warning Wolfson Microelectronics Plc, a maker of semiconductors, said on June 27 that second-quarter revenue will be “towards the lower end of previous guidance” and cut growth forecasts for 2011. The International Monetary Fund sees the economy growing 1.5 percent this year and 2.3 percent in 2012. That’s less than the 2.2 percent and 2.6 percent it projects for the world’s advanced economies. The nine-member Monetary Policy Committee held its benchmark rate at 0.5 percent today, as forecast by all 51 economists in a Bloomberg News survey. Forward contracts on the sterling overnight interbank average show investors expect the U.K. central bank to refrain from raising rates until beyond May next year. The pound was down 0.1 percent from yesterday against the dollar at 1.5983 as of 3:16 p.m. in London. –With assistance from Harumi Ichikura and Scott Hamilton in London. Editors: Andrew Atkinson, Fergal O’Brien To contact the reporter on this story: Svenja O’Donnell in London at To contact the editor responsible for this story: Craig Stirling at Business Exchange E-mail Print READER DISCUSSION
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PostPosted: Tue Jan 17, 2012 5:10 pm    Post subject: Reply with quote

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