{NIESR:Estimates UK Sep-Nov GDP At 0.6% Vs 0.5% In Aug-Oct
–NIESR Says Significant Output Gap Remains, Sees Less QE2 Case
LONDON (MNI) – UK output rose 0.6% in the three months through
November, the National Institute of Economic and Social Research said
today.
NIESR said that the estimates for November showed unless output
turns down again, the recession is over, while the period of depression
is likely to continue for some time.
NIESR said that it does not expect output to pass its peak of early
2008 until 2012.
The NIESR estimate follows the release of official production data
for October by the NS this morning.
Manufacturing output rose 0.6% m/m in October, well above the 0.3%
MNI analyst’ median forecast and the strongest increase since March.
Manufacturing registered a 5.8% increase on October 2009 compared with
the 5.4% median forecast.
The data confirm that manufacturing remains the main engine of the
UK economic recovery and is a good start to Q4, following the
surprisingly strong Q3 GDP report.
–London bureau: +4420 7 862 7492; email: wwilkes@marketnews.com
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