Factory production figures drop in Britain
The factory output has once again seen a drop for the first time since April last year in France. While the drop is only of 0.1 per cent, it has forced the Office for National Statistics to revise the growth statistics to 0.4 per cent.
It happened because the manufacturing sector form 12 per cent of total GDP of UK and since 2010 has been showing an increased contribution to country's economic growth has increased. This was seen as a sign of recovery, the idea which has got a jolt because of the drop.
Experts like David Kern, chief economist at the British Chambers of Commerce say that the drop is a result of bad weather that was seen during December. But the good thing is that the Bank of England has continued to hold back the interest rates at 0.5 per cent.
Inflation, however, has played spoiltsport and continues to trouble the policy makers. Analysts are hopeful that under the given conditions, things will improve for better soon. But reaching put to the 2008 output level will be tough till