As widely reported today, manufacturing fell 0.4 points on the Index of Production in October 2015 and is currently 0.1 points lower than in October 2014. Yesterday, I reported on the EEF reporting tougher conditions, especially in heavy non-consumer manufacturing.
Fashion and textiles manufacturers did manage to buck this trend, reporting a 0.3 point increase with output now a whole 4 poinys higher than in October 2014. However, the current index reading of 90.9 (with 2012 = 100) does show how far output has fallen in recent years having peaked in 2011 at 103.5 as well as the decline in May to August where 8 points were wiped off the Index.
Figure 1: Index of Production Chained volume indices of gross value added 2012=100Source: Office for National Statistics