Do we need to re-think how we measure the health of an economy? Is there more to it than balancing the books?
Following the UK’s return to recession and the mounting crisis in the Eurozone, numerous column inches have been written by economists on what the financial statistics actually mean and what fiscal policies are needed to stimulate growth and turn the numbers around.
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The signs have not been good for UK manufacturing this week, with the PMI falling to a 26-month low and yesterday’s announcement of a surprise fall in industrial production.
Some believe one of the problems the sector faces is its low profile – even though manufacturing makes up 10 per cent of GDP – so promoting what we do make here in the UK will give it a boost.
A group of MPs last month launched the Made by Britain campaign, asking their colleagues to nominate something manufactured in their constituency to be proud of. Suggestions so far include the AGA, ejector seats and fishfingers. (more…)
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