(PRWEB) September 10, 2012
Big4.com, the premier social networking forum for professionals and alumni of Accenture, Andersen, BearingPoint, Capgemini, Deloitte, Ernst & Young, KPMG and PricewaterhouseCoopers PwC reports that Nida Ali, economic advisor to the Ernst & Young ITEM Club, says there has been a very positive start to Q3 with improvements in industrial and manufacturing figures going beyond the unwinding of the bank holiday effects. Big4.com reports these figures are at odds with the much more downbeat survey data and suggest that manufacturing will contribute positively to growth in Q3.
Big4.com also notes that Ali sees the fact that output was higher than May – when there was an extra working day – is very encouraging and points to a genuine increase in output. It is even more heartening that the robust increase comes on top of chunky upward revisions to output in Q1 and Q2, which could contribute to further upward revisions to GDP.
“Having said that, the Eurozone crisis continues to cast a sizeable shadow over the outlook, and could continue to be a drag on export demand,” he says. “The struggle for UK manufacturers is far from over.”
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- Kristy Short