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BCC: Manufacturing figures highlight urgent need for action

Commenting on the January manufacturing figures, just published by the ONS, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:

"The much worse than expected manufacturing figures show that the sector has so far failed to benefit from the sharp falls in sterling. Clearly, the essential rebalancing of the UK economy towards industry is not yet taking place.

"The critical priority is to ensure that the vital skills base within manufacturing is not lost during this recession. Urgent measures are needed to help viable and well managed firms hold on to their trained and skilled employees. A loss of this precious resource will cause immense long-term damage to the economy."