Output on the wane

Data from the Office for National Statistics has shown that UK manufacturing output dropped by 0.5 per cent in March, its sharpest rate of decline in six months, adding to current worries regarding the UK economy. The decline, unexpected by analysts, followed a couple of months of strong growth.

However, to put the fall in context, manufacturing rose by 0.3 per cent in the first three months of 2008, in comparison with the final quarter of 2007.

On the smaller companies front, AIM-listed low-power microdisplays maker MicroEmissive (MED), was marked more than 50 per cent lower to 11.75p on disappointing trading news. Due to the general slowdown in demand for consumer electronics worldwide, as well as slower than expected development of the market for its consumer head-mounted displays, expectations of reaching month-on-month profitability have been delayed until the next financial year.