David Kern Downward Quotations

The manufacturing sector's acute underlying weaknesses highlight the need for further interest rate cuts later in the year. We do not necessarily call for, or expect, a further interest rate cut on Thursday. But the economy has clearly weakened and confidence is faltering. The MPC must be ready to act firmly to counter the downward pressures on the economy and to alleviate the plight of manufacturing.

This downward revision to the annual GDP growth rate mainly reflects lower growth in key areas of the services sector and in construction,

Alleviating the plight of manufacturing, and countering the downward pressures on the economy, are now key priorities.