§ Sir Keith Joseph
The latest information currently available for manufacturing output is for February. The index of industrial production for March will be published on 19 May. In the latest three months, manufacturing production was 3 per cent. lower than in the previous three months and some 18 per cent. below its 1979 peak. The February estimate, however, was 1 per cent. higher than the January one, so it is possible that a recovery is now under way. A sustained increase in industrial activity can be achieved only through improved competitiveness, wage moderation, good management and co-operative working practices.