United Kingdom: Industrial output accelerates in April
June 10, 2014
In April, industrial production rose 0.4% over the previous month in seasonally-adjusted terms, which came in above the 0.1% rise recorded in March. April’s growth came in on par with markets expectations.
Manufacturing output growth inched down from March’s 0.5% to 0.4% in April, which was also in line with market expectations. The contraction in mining and quarrying continued in April; the category contracted 1.1% over the previous month, which was down from the 0.9% drop recorded in March. In addition, oil and gas output contracted 2.2% in April, which was a notch below the 2.1% drop recorded in March. Conversely, electricity, gas, steam and air conditioning supply surged from a 0.4% increase in March to a 3.7% rise in April.
In annual terms, industrial production rose 3.0% in April, which was above March’s 2.5% increase and marked the strongest expansion since January 2011. Annual average growth increased from 0.8% in March to 1.2% in April and marked the highest level since July 2011.