Thursday, August 07, 2014

The latest statistics on industrial production, published yesterday, show some slowing in the rate of growth. The April figures indicated an annual growth rate of 2.9%, but this slowed to 2.2% in May and to 1.2% in June. These data provide further evidence to suggest that the speed of recovery is now starting to go into reverse and that growth in 2015 will be noticeably more modest than it has been in the current year.