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The Bank of England's monthly report from its regional agents, released alongside the minutes of the latest monetary policy committee meeting, painted a mixed picture: manufacturing output was "rising steadily" and business services turnover was growing "at a gentle pace"; but consumer spending was slowing in the face of rising inflation.
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The durable goods numbers revealed a mixed picture for manufacturing.
Statistics for the three months to February revealed an even worse picture, with manufacturing down 6.5% from the previous quarter.
In conjunction with the reported decline in new orders, ongoing cuts in staffing, faster suppliers' delivery times and a stronger rise in output prices, the overall picture in manufacturing looks pretty gloomy.
"The news from industry was particularly weak, with November's sharp drop on output contributing to a rather grim fourth quarter and leaving the overall picture for manufacturing in 2012 the weakest since 2009".
#BoE February 20 , 2014Updated at 3.01pm GMT 12.25pm GMT CBI survey paints positive picture of UK manufacturing Nissan's car plant in Sunderland.
"The Future of America: Lewis Hine's New Deal Photographs" is a smaller set of pictures of agricultural, manufacturing and mining activities in the Northeast made in 1936 and '37.
Meanwhile, investors received a clearer picture of manufacturing in the United States Thursday morning, after the Philadelphia Federal Reserve reported that its manufacturing index for March came in at negative 35.0, a considerable improvement over the negative 41.3 reading reported in February and better than the minus 39.0 Wall Street had expected.
But a Federal Reserve report offered a less optimistic picture for manufacturing, saying the sector "remained soft" in most areas.
"The picture of manufacturing strength from survey data is not being captured in the government-collected data on new orders, and this divergence is a puzzle," said John Ryding, chief economist at RDQ Economics.
Mr Alexander hailed improvements in business confidence and a rosier picture for manufacturing and the jobs market as evidence of an sustained upturn and said plans to help aspiring homebuyers get access to loans would go ahead despite concerns of a housing bubble.
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