Output has not been increasing as much because of the higher costs of production. Investment is also weak. |
Strongest growth has been in business with private individuals, partly by increased borrowing for house purchases and increased interest in savings products. |
These figures confirm the picture of a manufacturing sector facing pressures from all sides. |
We've seen over £50billion of additional business tax since 1997 and the share of Government spending has continued to ratchet upwards. |
With some notable exceptions, manufacturers continue to experience difficult times, with high energy costs continuing to add pressure to profit margins. |