LONDON (MNI) – The UK Treasury said today that the upward revision
to Q4 GDP showed that the manufacturing sector is performing well and
that this boded well for the planned rebalancing of the economy towards
investment and exports.

“The Budget set out a new model for economic growth based on
investment, exports and manufacturing, along with actions to help
deliver growth. This upward revision to growth continues to show the
manufacturing sector performing well, which, supported by the actions
announced in the Budget and the Plan for Growth, will help promote a
rebalancing of the economy.”

Data released earlier by National Statistics showed GDP declined by
0.5% on the quarter in Q4 and was up 1.5% on the year. The fall on the
quarter was revised up slightly from the previously estimated decline of
0.6%, while the yearly change was unrevised.

–London bureau: 4420 7862 7492; email: