Survey data has shown that during the fourth quarter of this year, the growth rate has slowed down. And this despite the fact that surge in exports has boosted the performance of the manufacturing sector.

The services sector has shown poor performance and the slowing down is the effect of that.

The British Chamber of Commerce survey close to 6,000 companies and as a result they were able to say that the manufacturing has done really well in the last quarter. During this time, the companies expanded by 0.4 per cent, and similar performance was seen in the purchasing managers' indices.

David Kern, economist at the BCC said that the good thing is that the growth story has continued even if at a slower pace. After showing signs of contracting which was 1.1 per cent, 0.7 per cent of growth was seen during the second and third quarter.

What is bad is that the domestic demand is worse than it should be and that is going to have long term impact.

Meanwhile, it was seen that during the final quarter of 2010, manufacturing noticed the sharpest increase in its sale and orders since 1994.