The backdrop to Osborne's budget? Small positives in a greater failure
by Larry Elliott from on (#DJ9M)
Industrial production and the North Sea sector rises, housing is boosted, but manufacturing remains down, making the UK's economic growth unbalanced
The last set of economic figures before the summer budget provided mixed news for George Osborne.
On the upside, industrial production was up by 0.4% in May - the latest month for which data is available - and by 1% between the latest two quarters. Industry accounts for around 15% of the economy and will help boost growth in the second quarter of 2015.
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