Liberal Democrats in Business

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GDP Figures: Manufacturing Decline A Bad Omen For The Economy - Cable

11.46.00am BST (GMT +0100) Wed 30th Jun 2004

Commenting on this morning's GDP figures, Vince Cable MP, Liberal Democrat Shadow Chancellor, said: "The continuing decline of manufacturing output is a bad omen for the health of the economy.

"Britain's twin problems of consumer debt and weak manufacturing cannot be resolved by the Bank of England alone.

"The Chancellor must recognise there are problems and provide solutions to them."

ENDS

Notes

Today's figures show that in the first quarter of 2004 manufacturing output was 0.4% lower than in the previous quarter - and 2.3% below 2000 levels.

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