UK Production Falls

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Industrial production in the UK fell in April which in another sign that the economy there has fallen into recension. The Office of National Statistics reported:

The seasonally adjusted Index of Production fell by 1.0 per cent in April 2012 compared with April 2011

The seasonally adjusted Index of Manufacturing fell by 0.3 per cent in April 2012 compared with April 2011

The seasonally adjusted Index of Production remained unchanged between March 2012 and April 2012

The seasonally adjusted Index of Manufacturing fell by 0.7 per cent between March 2012 and April 2012

The news will cause more attacks on the Prime Minister who continues to insist the austerity is the better path to a balanced budget than stimulus investments are. So far, the evidence is against that. And, with the second quarter nearly over, there may be proof soon that GDP improvement has worsened along with most other data.

Douglas A. McIntyre