Fact Service January 2013

Issue 2

Factory output down

There was little good news on the economy as official figures showed manufacturing shrank by 0.7% in the three months to November compared with the previous three months.

Factory output was also down — by 1.9% — on the same period a year ago.

The more volatile monthly figures showed a 0.3% decrease on the previous month.

The largest contributions to the monthly fall came from the manufacture of electrical equipment, which fell by 6.4% and the manufacture of computer, electronic and optical products which fell by 3.4%.

On the plus side there were increases of 3.1% in the manufacture of transport equipment, and the manufacture of machinery and equipment, which rose by 3.6%.

November factory output was down by 2.1% when compared with November 2011.

The index of production (manufacturing, mining and utilities) posted a 1.9% decrease on the previous three months and was down 2.9% on the same period a year ago.

The depressing figures could mean that the country is heading for a triple-dip recession.