Damning figures show an economy punctured by decade of decline – John McDonnell

John McDonnell MP, Labour’s Shadow Chancellor, responding to news that production output had its largest fall in 2019 since 2012, said:

“These are damning figures showing an economy punctured by a decade of decline.

“With production tumbling over 2019 at its worst rate since 2012, it is clear that the Tories’ combination of cruel cuts and economic mismanagement has sent the economy into freefall.

“The Tories lack any vision or plan for the economy, and the upcoming Budget risks another decade of disappointment.”

Ends

Notes to Editors:

·         GDP showed no growth in Q4 2019: https://www.ons.gov.uk/economy/economicoutputandproductivity/output/bulletins/indexofproduction/december2019

·         Production output decreased by 0.8% in Q4, with manufacturing output falling by 1.1%; over 2018 production output fell by 1.3% and manufacturing output fell by 1.5%, the largest annual fall in production output since 2012: https://www.ons.gov.uk/economy/economicoutputandproductivity/output/bulletins/indexofproduction/december2019