Commenting on the recent short-term economic indicator figures, Rob Kent-Smith — head of national accounts at the Office for National Statistics — said: “Manufacturing fell in the three months to April, with electrical machinery and steel for infrastructure projects seeing reduced production.

International demand continued to slow, and the domestic market remained subdued.

However, oil and gas production grew strongly in the aftermath of the Forties pipeline closure at the end of last year.

“While construction output saw a small bounce-back in April after a poor start to the year, this sector continues to contract over the longer term, with significant falls across most types of work.

"Construction orders fell for a second successive quarter, after recent boosts from large rail projects. However, new housing orders reached their highest level since before the economic downturn.

“The trade deficit widened, as exports fell by more than imports, with exports of goods and services both declining. Exports of machinery, aircraft and pharmaceuticals all saw notable falls.”