THE government still needs to set clear economic priorities in its autumn statement regardless of the news that the country is out of recession.
Jim Davison, south-east region director for the manufacturers’ organisation, says trading conditions remain difficult for the sector.
The UK climbed out of the double-dip recession with a bang between July and September as the economy returned to growth at its fastest pace in five years.
Gross domestic product – a broad measure for the total economy – grew one per cent in the third quarter of the year, the Office for National Statistics said, ending three consecutive quarters of declining output.
The bounce-back was largely driven by one-off factors, the ONS warned, such as clawed-back activity lost to the extra bank holiday for the Queen’s Diamond Jubilee and a slight lift from the Olympics.
Mr Davison said: ‘The question is whether this first estimate is enough to signal an improvement in the underlying growth picture.’
The figures are due to be revised by the ONS on November 27.